On February 12, Franklin Templeton announced that the tokenized money fund, the Franklin On-Chain US Government Money Fund (FOBXX), has been deployed to Solana. The fund is now available on eight different blockchains.
According to the Franklin Templeton website, FOBXX is fully secured by US government securities, cash and repurchase agreements for 99.5% of total assets in US government securities or cash. Provides an annual yield (APY) of 4.55%.
The Tokenized Money Fund is a real-world fund in which stocks are digitally issued on the blockchain, offering a secondary market with no downtime.
FOBXX's market capitalization is nearly $594 million as of February 11th, making it the third largest money fund with tokenized stocks. The fund has 544 holders, an increase of 2.5% over the past 30 days.
The minimum amount of FOBXX is available at APTOS, totaling $21.4 million. As a result, Solana's FOBXX integration could provide a much-needed boost to the network's tokenized money fund ecosystem.
As of February 11th, Solana had about $136 million tokenized shares issued, less than 4% of the sector's market capitalization.
Over $3.5 billion
The tokenized money fund sector achieved a massive growth of 415% in 2024, closing the year with a market capitalization of nearly $4 billion. The industry's history was nearly $4.2 billion, and was registered on January 7th.
As of February 11th, tokenized money funds have a market capitalization of $3.6 billion, down approximately 15% from their peak. Nevertheless, it was more than four times the market capitalization registered on the same date last year.
Ethereum dominates the market and hosts more than $2.4 billion in tokenized stocks. The second largest network is fantastic, with nearly $380 million in the share version of the digital money fund. This is primarily due to the $372 million FOBXX issued on the network.
In addition to Ethereum and Stellar, none of the other 13 blockchains tracked by RWA.xyz did not reach the $150 million tokenized money fund stock threshold.
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