Overview
Franklin Templeton launched the Franklin OnChain US Government Money Fund (FOBXX) in 2021, making it one of the first US-registered mutual funds to use a public blockchain for transaction processing and record keeping. FOBXX is represented by the BENJI token on the Stellar and Polygon blockchains, and invests in US government securities and repurchase agreements to deliver yield to token holders. Franklin Templeton has since expanded its on-chain product suite and operates a blockchain-native investment platform, positioning it as one of the most committed traditional asset managers in on-chain finance.
Key Products & Features
- FOBXX — Franklin OnChain US Government Money Fund
- BENJI token on Stellar and Polygon
- Franklin OnChain platform for blockchain-native investment
- Tokenised bond and credit fund products
Why This Is NeoFi
Franklin Templeton was the first major asset manager to register a mutual fund that uses public blockchain for record-keeping and settlement, executing on Stellar and Polygon (on-chain execution), investing in US government securities (real-world financial utility), and maintaining SEC registration and institutional fund structure (institutional design).
The three pillars of NeoFi:
- On-Chain Execution: All operations and settlement occur transparently on blockchain, ensuring full auditability and programmability.
- Real-World Financial Utility: Products deliver genuine value in established financial markets — lending, trading, payments, custody, or asset management.
- Institutional-Grade Design: Infrastructure meets the standards of professional finance: robust risk management, compliance frameworks, scalability, and operational resilience.