Franklin Templeton Expands FOBXX Fund to Solana in Latest Blockchain Integration

Franklin Templeton, a leading asset manager making significant strides in crypto and blockchain technology, has announced the expansion of its Franklin OnChain U.S. Government Money Fund (FOBXX) to Solana. This move marks the latest blockchain integration for FOBXX, reinforcing the firm's commitment to tokenized investment products.

FOBXX: A Blockchain-Based Investment Fund

FOBXX, which operates similarly to a stablecoin by maintaining a $1 share price, is already live on multiple blockchain networks, including Coinbase’s Base, Aptos, and Avalanche. Its first on-chain integration occurred four years ago on Stellar.

The fund invests in U.S. government securities, such as fixed, floating, and variable-rate bonds, as well as repurchase agreements fully collateralized by U.S. Treasuries or cash.

The Growing Demand for Tokenized Assets

Tokenization is rapidly emerging as a dominant trend in the financial sector, with major asset managers like BlackRock, Fidelity, and WisdomTree entering the space. These firms argue that on-chain investment products provide improved liquidity, transparency, and accessibility compared to traditional assets.

According to RWA.xyz, the market for tokenized U.S. Treasuries alone has grown to $3.6 billion, with $2.5 billion of that total residing on Ethereum (excluding Layer 2 solutions).

Why Solana?

By expanding to Solana, Franklin Templeton is leveraging one of the fastest and most scalable blockchains in the industry. Solana had a breakout year in 2024, driven by increased adoption, particularly within the memecoin sector and DeFi applications.

Franklin Templeton currently manages $594 million in tokenized Treasuries, making it an early adopter of Solana’s blockchain infrastructure. This move further strengthens Solana’s role as a growing hub for institutional blockchain-based finance.