Franklin Templeton adds Aptos to tokenized Treasuries fund
Franklin Templeton has expanded its tokenized US treasuries fund, the Franklin OnChain U.S. Government Money Fund (FOBXX), to the Aptos blockchain, which uses the Move programming language. FOBXX is a regulated fund that invests at least 99.5% of its assets in government securities. Aptos is the fifth blockchain to host FOBXX, joining Avalanche, Arbitrum, Stellar, and Polygon. The expansion signifies a step towards integrating traditional finance with decentralized networks. Despite this development, the Aptos APT token has decreased by approximately 1%, trading at $7.76. Franklin Templeton chose Aptos for its compatibility with the Benji blockchain-integrated system. Since its launch in October 2022, Aptos has become a top 25 digital asset by market capitalization and has seen daily transaction volumes exceeding 3 million. FOBXX, launched in 2021, is the second-largest tokenized fund globally, managing over $435 million in assets. The firm is also considering launching its mutual fund on the Solana blockchain.
