What is Franklin OnChain U.S. Government Money Fund?

FOBXX, the Franklin OnChain U.S. Government Money Fund, is the first U.S.-registered mutual fund to record shares directly on a public blockchain. Launched by Franklin Templeton, a global multi-boutique investment manager overseeing approximately $1.7 trillion in assets across more than 150 markets, it invests primarily in U.S. government securities, cash, and repurchase agreements, offering institutional-grade stability while using the Stellar, Avalanche, Polygon, and Solana blockchains for transfer and share ownership records.

Shareholders access the fund through the Benji Investments app, which serves as both a digital wallet and fund portal. This tokenized structure allows near-instant settlement, lower operational costs, and enhanced transparency compared to traditional money market funds.