Historical note: this article records Franklin Templeton’s October 2024 expansion of its OnChain U.S. Government Money Fund to Aptos. Market-size and asset figures below reflect that period, not current values.
Franklin Templeton expanded its OnChain U.S. Government Money Fund (FOBXX) to the Aptos blockchain in October 2024.
Launched in 2021, FOBXX is a U.S. government money market fund whose shares can be represented through Franklin Templeton’s blockchain-based recordkeeping system.
The Aptos expansion followed earlier support for networks including Stellar, Polygon and Avalanche. Franklin Templeton used its BENJI token infrastructure to make the fund available through the Benji Investments platform.
At the time of the October 2024 announcement, FOBXX was reported as one of the largest tokenized U.S. Treasury-related funds, with more than $435 million in assets. BlackRock’s USD Institutional Digital Liquidity Fund was larger at the time, with more than $518 million.
The broader tokenized U.S. Treasury market was also expanding quickly in 2024. Products from Ondo, Hashnote and OpenEden were among those competing for investor demand.
The useful distinction is that blockchain access does not turn a regulated fund into an ordinary crypto token. Investors still need to understand the fund structure, eligibility rules, custody arrangements and the legal rights attached to the tokenized record.
