The OnChain U.S. Government Money Market Fund, which is the first asset manager on the L2 blockchain, is launched by Franklin Templeton on Coinbase’s Base.
The OnChain U.S. Government Money Market Fund has been launched by Templeton, a prominent asset management firm, on Base, the layer-2 blockchain of Coinbase.
This action represents the initial time a reputable asset manager made a fund accessible on the Base network, a layer-2 solution designed to optimize transaction efficiency and minimize expenses on the Ethereum blockchain.
Franklin Templeton Launches Tokenized Fund on Basis
Franklin Templeton’s tokenized fund, FOBXX, is now accessible on Coinbase’s Base blockchain, according to a press release. This is a significant achievement for Base, a layer-2 blockchain solution that has rapidly gained popularity since its inception in 2022.
Base extends its platform to its first significant asset manager, FOBXX, and solidifies its expanding influence in the decentralized finance (DeFi) sector.
Anthony Bassili, the director of tokenization at Coinbase, discussed the development. He described Franklin Templeton’s launch as a “clear signal” to investors and issuers about the potential of Base.
He underscored that financial institutions increasingly utilize blockchain technology to facilitate quicker and more cost-effective transactions, thereby modernizing traditional monetary systems.
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