Franklin Templeton Tokenizes $380M U.S. Treasury Fund on Polygon and Stellar

According to Cryptoslate, Franklin Templeton tokenized a $380 million US government bond fund on the Polygon and Stellar blockchains to enable peer-to-peer (P2P) transfers without intermediaries.The company launched the Franklin on-chain US government money fund (FOBXX) in the form of BENJI tokens. Each token represents a portion of FOBXX and can be traded on public Polygon and Stellar blockchains. This innovation aims to simplify transactions and expand access, allowing investors to manage their assets more flexibly through direct trading.Franklin Templeton is incorporating blockchain technology into its financial operations to enhance asset management liquidity and efficiency. The company is responding to the growing demand of financial institutions by integrating traditional financial structures with modern technological solutions.