Franklin Templeton also launched its tokenized money market fund on the Arbitrum (ARB) network, Coindesk reported.
$1.5 trillion asset manager Franklin Templeton said on Thursday that it has launched its OnChain U.S. Government Money Market Fund (FOBXX) on Ethereum via layer-2 blockchain Arbitrum.
The Wall Street investment giant said the expansion will help integrate decentralized finance into the traditional financial system and help Franklin reach a new audience for FOBXX.
Roger Bayston, Head of Digital Assets at Franklin Templeton, said:
“Expanding into the Arbitrum ecosystem is an important step in our journey to strengthen our asset management capabilities with blockchain technology.
“We are excited about the opportunities this will open for our company and our customers.”
The $420 million OnChain US Government Money Market Fund was previously launched on Stellar and Polygon.
*This is not investment advice.