The RWA tokenized U.S. bond market continues to grow! Franklin FOBXX has enabled on-chain P2P trading

Franklin OnChain, the first U.S. on-chain fund, U.S. government currency fund FOBXX, has enabled on-chain P2P trading. With the addition of BlackRock USD Institutional Digital Liquidity Fund (BUIDL), it represents The market value of the monetized U.S. bond market continues to break new highs, currently reaching US$1.18 billion.

Franklin is also a Bitcoin spot issuer

Franklin (Franklin Templeton) is a California-based asset management company that provides services in 155 countries around the world and managed as of March 31, 2024 Assets are approximately $1.6 trillion.

Franklin is also one of the Bitcoin spot issuers, with the code EZBC, but its current total assets are only US$330 million, far lower than BlackRock’s US$17.7 billion.

FOBXX Opens P2P Trading

Franklin OnChain U.S. Government Currency Fund FOBXX was established on April 6, 2021. The fund invests 99.5% of its total assets in U.S. government securities, cash and fully A repurchase agreement collateralized by U.S. government securities or cash. As of the end of March, total assets were US$360 million, and the total expense ratio was 0.89%.

FOBXX is the first mutual fund registered in the United States to use a public blockchain for transaction processing and recording share ownership. One share of the fund is represented by a BENJI token, and the transfer agent of the fund is through a proprietary blockchain. A formal record of share ownership is maintained by a chain-integrated system that utilizes blockchain technology for trading activities. Originally issued on the Stellar blockchain. Last April, it expanded to Polygon.

To invest in FOBXX, you must have an exclusive on-chain wallet for transactions (created by the transfer agent of the fund when opening an account), and you can check the fund balance in the wallet through the application Benji Investmentsapp. Only this Only wallets have the right to purchase, redeem and hold fund shares.

Franklin announced that FOBXX can now be transferred from one shareholder to another on the public blockchain, which is a peer-to-peer transaction (P2P).

The tokenized U.S. bond market continues to grow

According to data from the world asset tokenization analysis platform RWA.xyz, the market value of the tokenized U.S. bond market continues to break new highs, currently reaching 1.18 billion Dollar. The largest among them is Franklin's FOBXX, which accounts for 32% of the tokenized U.S. bond market. The recent star is the BlackRock USD Institutional Digital Liquidity Fund (BUIDL), whose market value is very close to FOBXX.

BUIDL has also introduced the smart contract function of stablecoin issuer Circle, allowing BUIDL holders to quickly convert their shares into USDC through Circle. This smart contract provides BUIDL investors with near-instant and round-the-clock transaction exit, bringing the core advantages of tokenized assets.

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