Franklin Templeton's OnChain U.S. Government Money Market Fund has expanded to Ethereum, joining other blockchains while marking a significant venture into tokenized asset management.
Launched in 2021, FOBXX is the first money market fund using public blockchain for tracking transactions, now valued at $410 million, making it third-largest.
Ethereum is the preferred choice for issuers of tokenized assets, handling $1.6 billion worth of transactions, outperforming Stellar and Solana.
Grayscale highlighted Ethereum's decentralization and neutrality as essential for a global platform for tokenized assets, giving it an edge over other smart contract platforms.
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