Franklin Templeton Launches OnChain US Government Money Fund on Solana

The post Franklin Templeton Launches OnChain US Government Money Fund on Solana appeared first on Coinpedia Fintech News

In an X post, Franklin Templeton announced that its Franklin OnChain US Government Money Fund (FOBXX) is now live on the Solana network. The asset manager highlighted Solana’s speed, security, and censorship-resistance, promoting global adoption through its open infrastructure.

FOBXX, which aims to maintain a stable $1 share price like a stablecoin, is already live on Coinbase’s Base, Aptos, and Avalanche. Its first blockchain integration was with Stellar, about four years ago. Notably, the fund invests at least 99.5% of its total assets in U.S. government securities, cash and repurchase agreements collateralized fully by U.S. government securities or cash.