1 month ago
Franklin Templeton announced connected Feb. 12 that its tokenized wealth fund, “Franklin OnChain US Government Money Fund” (FOBXX), was deployed connected Solana — the money is present disposable connected 8 antithetic blockchains.
According to Franklin Templeton’s website, the FOBXX invests 99.5% of its full assets successful US authorities securities, cash, and repurchase agreements afloat collateralized by US authorities securities oregon cash. It offers a 4.55% yearly percent output (APY).
A tokenized wealth money is simply a real-world money whose shares are digitally issued connected a blockchain, giving it a secondary marketplace with nary downtime.
FOBXX’s marketplace headdress was astir $594 cardinal arsenic of Feb. 11, making it the third-largest wealth money with tokenized shares. The money has 544 holders, a 2.5% summation implicit the past 30 days.
The smallest magnitude of FOBXX is disposable connected Aptos, totaling $21.4 million. As a result, the FOBXX integration connected Solana could springiness the network’s tokenized wealth money ecosystem a much-needed boost.
As of Feb. 11, astir $136 cardinal successful tokenized shares had been issued connected Solana, little than 4% of the sector’s marketplace cap.
Over $3.5 billion
The tokenized wealth money assemblage experienced important maturation of 415% successful 2024, closing the twelvemonth with a marketplace headdress of astir $4 billion. The industry’s all-time precocious was astir $4.2 billion, registered connected Jan. 7.
As of Feb. 11, the tokenized wealth money marketplace headdress was $3.6 billion, astir 15% down from its peak. Nevertheless, it was inactive implicit 4 times larger than the marketplace headdress registered connected the aforesaid day past year.
Ethereum dominates the market, hosting implicit $2.4 cardinal successful tokenized shares. The second-largest web is Stellar, with astir $380 cardinal successful integer wealth money stock versions. This is chiefly owed to the $372 cardinal of FOBXX issued successful the network.
Besides Ethereum and Stellar, nary of the different 13 blockchains tracked by rwa.xyz reached the $150 cardinal successful tokenized wealth money shares threshold.
The station Franklin Templeton FOBXX tokenized wealth money goes unrecorded connected Solana appeared archetypal connected CryptoSlate.
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