By Nermeen Nabil Khear 
Global investment firm Franklin Templeton’s proprietary blockchain-integrated record-keeping system Benji is now on crypto exchange Coinbase’s Base.
With the development, the Franklin OnChain U.S. Government Money Fund (FOBXX) – which invests at least 99.5% of its total assets in U.S. government securities, cash and repurchase agreements – can now be traded on the Ethereum (ETH) layer-2 chain.
Franklin Templeton unveils the expansion on social media platform X,
“New chain unlocked. Benji, our proprietary blockchain-integrated recordkeeping system, is now live on Base! With this announcement, Franklin Templeton is the first asset manager to build a tokenized fund on Base.”
FOBXX uses blockchain technology to process transactions and record ownership. The fund’s transfer agent keeps tabs of share ownership using Benji, which utilizes public blockchain networks for transaction activities.
Investors use the Benji app to invest in the tokenized money fund. One share of the Franklin OnChain U.S. Government Money Fund is equivalent to one BENJI token.
FOBXX was launched on layer-1 Ethereum competitor Avalanche (AVAX) in August. Roger Bayston, head of digital assets at Franklin Templeton, said that bringing the fund to the network will expand access.
“We look forward to working with Avalanche’s vibrant developer community to bring new blockchain-enabled innovations into the market.”
The fund is also available on XRP rival Stellar (XLM) network and layer-2 scaling solutions Arbitrum (ARB) and Polygon (MATIC).
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
The post Franklin Templeton Expands Blockchain Record-Keeping System Benji to Ethereum Layer-2 Scaler Base appeared first on The Daily Hodl.
Global investment firm Franklin Templeton’s proprietary blockchain-integrated record-keeping system Benji is now on crypto exchange Coinbase’s Base. With the development, the Franklin OnChain U.S. Government Money Fund (FOBXX) – which invests at least 99.5% of its total assets in U.S. government securities, cash and repurchase agreements – can now be traded on the Ethereum (ETH)
The post Franklin Templeton Expands Blockchain Record-Keeping System Benji to Ethereum Layer-2 Scaler Base appeared first on The Daily Hodl. Altcoins, Blockchain, ARB, arbitrum, AVAX, Base, Benji, blockchain, coinbase, Crypto, ETH, Ethereum, FOBXX, Franklin Templeton, Matic, News, Polygon
This articles is written by : Nermeen Nabil Khear Abdelmalak
All rights reserved to : USAGOLDMIES . www.usagoldmines.com
You can Enjoy surfing our website categories and read more content in many fields you may like .
Why USAGoldMines ?
USAGoldMines is a comprehensive website offering the latest in financial, crypto, and technical news. With specialized sections for each category, it provides readers with up-to-date market insights, investment trends, and technological advancements, making it a valuable resource for investors and enthusiasts in the fast-paced financial world.