Franklin Templeton Expands Blockchain Presence with Avalanche Mutual Fund Launch
CryptoNewsTerminal Staff22 Aug, 2024
Franklin Templeton Expands Blockchain Presence with Avalanche Mutual Fund Launch
Franklin Templeton, a global asset management firm, has recently announced the launch of its mutual fund, the Franklin Templeton Blockchain American Government Money Market Fund (FOBXX), on the Avalanche (AVAX) network. This move marks a significant expansion of Franklin Templeton's blockchain presence, which initially began with the launch of FOBXX on the Stellar blockchain in 2021. Since then, the fund has also been made available on Polygon and Arbitrum. The launch of FOBXX on Avalanche is a testament to the growing adoption of blockchain technology within the financial industry. Avalanche, known for its scalability and high transaction throughput, provides a robust platform for Franklin Templeton to offer its clients access to blockchain-based investment products. With the addition of Avalanche to its blockchain roster, Franklin Templeton demonstrates its commitment to innovation and its belief in the transformative potential of blockchain technology in the financial markets.
