Franklin Templeton introduced on February 12 that his tokenized Cash Fund, “Franklin Onchain Us Authorities Cash Fund” (FOBXX), was deployed on Solana – The fund is now out there on eight completely different blockchains.
Based on Franklin Templeton’s web site, FOBXX invests 99.5% of its complete belongings in American authorities securities, money agreements and purchase -back agreements fully assured by US authorities securities or species. It gives an annual return of 4.55% (APY).
A tokenized financial fund is an actual world fund whose actions are issued digitally on a blockchain, which supplies it a secondary market with out stopping time.
FOBXX's market capitalization was practically $ 594 million on February 11, making it the third financial fund with Tokenized shares. The fund has 544 holders, a rise of two.5% within the final 30 days.
The smallest amount of FOBXX is obtainable on Aptos, totaling $ 21.4 million. Consequently, the Fobxx integration on Solana may give the ecosystem of the financial fund of the community tokenized a necessary increase.
As of February 11, practically $ 136 million in Tokenized shares had been issued on Solana, or lower than 4% of the market capitalization within the sector.
Greater than $ 3.5 billion
The tokenized financial fund sector skilled vital progress of 415% in 2024, ending the 12 months with a market capitalization of just about $ 4 billion. The highest of all time in business was nearly $ 4.2 billion, recorded on January 7.
As of February 11, the market capitalization of the Tokenized Financial Fund was $ 3.6 billion, about 15% in comparison with its peak. Nonetheless, it was much more than 4 instances bigger than the market capitalization recorded on the identical date final 12 months.
Ethereum dominates the market, welcoming greater than $ 2.4 billion in tokenized shares. The second largest community is stellar, with practically $ 380 million in digital fund sharing variations. That is primarily as a result of $ 372 million in FOBXX issued within the community.
Along with Ethereum and Stellar, not one of the 13 different blockchains adopted by Rwa.xyz has reached the brink of $ 150 million in token financial fund shares.
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(Tagstotranslate) aptos
