**Franklin Templeton Launches Tokenized Money Fund on Arbitrum**
Franklin Templeton is taking a big step in bridging traditional and decentralized finance by launching its tokenized money fund, FOBXX, on the Arbitrum network. This move allows users to acquire and hold the fund’s tokenized shares on Arbitrum, alongside other networks like Stellar and Polygon.
FOBXX, created in 2021, offers low-risk yields by holding assets such as Treasury bills and commercial paper. As of June 2024, it has net assets of around $420 million and annualized returns of about 5.25%.
This launch is a significant win for Arbitrum, Ethereum’s leading Layer-2 scaling solution, with a TVL of approximately $14 billion. It also underscores the legitimacy of Arbitrum’s public ledger for financial recordkeeping.
Franklin Templeton aims to expand its tokenized real-world assets to new chains and make them accessible to user-managed wallets, enhancing the accessibility and scalability of financial solutions.