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Templeton Launches Tokenized Mutual Fund on Polygon

Franklin Templeton, the subsidiary of a global investment firm with $1.4T in assets under management, launched its on-chain money fund, a stablecoin alternative, on the Polygon network on Wednesday. The Franklin OnChain U.S. Government Money Fund (FOBXX) is a U.S.-registered mutual fund that executes transactions and records share ownership using the Stellar blockchain. Roger Bayston, head of digital assets at Franklin Templeton, highlighted that the integration is Franklin’s first within the Ethereum ecosystem. This collaboration is expected to pave the way for other traditional financial institutions to explore the benefits of decentralized finance and invest in blockchain technology.

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