CandleFocus Franklin Templeton Launches $1.53 Trillion Tokenized Fund on Avalanche—Will AVAX Prices Surge?
2024-09-22
Author: Content Editor
Global investment firm Franklin Templeton has expanded its involvement in blockchain technology by extending its on-chain money market fund to the Avalanche network. The Franklin OnChain U.S. Government Money Fund (FOBXX) is the first U.S.-registered mutual fund to use a public blockchain. The fund, available on the Avalanche network, allows token holders to swap USDC stablecoin for FOBXX shares, bridging the gap between traditional finance and blockchain. This move demonstrates the growing adoption of blockchain in the financial sector and aligns with Avalanche's position as a blockchain platform for institutions. Franklin Templeton's partnership with Avalanche signifies the integration of blockchain into traditional financial industries and the transformation towards more transparent financial markets.
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