Franklin Templeton — FOBXX and the On-Chain Money Market Revolution
Franklin Templeton's FOBXX became the first SEC-registered mutual fund using blockchain for transaction records in 2021, with $700M+ AUM by 2025.
Polygon (for Institutional Tokenization)
Polygon is an Ethereum Layer 2 scaling solution hosting Franklin Templeton's FOBXX money market fund and multiple institutional tokenization pilots — offering Ethereum compatibility with lower fees and higher throughput.
Stellar Blockchain
Stellar is a Layer 1 blockchain purpose-built for fast, cheap cross-border payments and tokenized assets — chosen by Franklin Templeton for FOBXX (alongside Polygon) and WisdomTree for multiple tokenized funds due to its institutional-grade settlement speed and low fees.
Tokenized Fund Shares
Tokenized fund shares represent fractional interests in traditional investment funds recorded on a blockchain — from Franklin Templeton's SEC-registered FOBXX (blockchain as transfer record) to Securitize-distributed PE funds — with $5B+ in US tokenized fund AUM.
Franklin Templeton's FOBXX: The First SEC-Registered Fund on a Public Blockchain
Franklin Templeton's BENJI fund (FOBXX) holds $380M+ in US Treasuries on the Stellar and Polygon blockchains. It was the first SEC-registered money market fund to record share ownership on a public blockchain — a regulatory breakthrough that opened the door for BlackRock's BUIDL.