Franklin Templeton Launches Stablecoin Reserve Fund from Money Market Fund, Embracing Blockchain

Global investment giant Franklin Templeton has transformed one of its U.S. money market funds into a dedicated reserve fund for stablecoins. This strategic move allows the Franklin OnChain U.S. Government Money Fund (FOBXX) to now serve as a vehicle for issuing and redeeming shares via the BENJI token on both the Stellar and Polygon blockchains. The initiative, approved by the SEC, marks a significant step in bridging traditional finance with digital assets. It provides a regulated, yield-generating model for stablecoin reserves, potentially setting a new institutional standard for the crypto ecosystem. This development underscores the growing institutional adoption of blockchain technology for asset tokenization and efficient financial operations.