Blockchain
In a tweet, Stellar announces that Franklin OnChain U.S. Government Money Fund (FOBXX) is now available on the network through the Benji Investments app. According to a press release, this is the first U.S. registered mutual fund to use a public blockchain to process transactions and register share ownership.
Stellar also announced a major milestone for the first registered US fund in its network to exceed $270 mln in assets under management (AUM). This is an important development as it demonstrates the potential for greater interoperability in the financial system, reflecting the significant integration between blockchain technology and traditional financial institutions.
One share of the fund is represented by one BENJI token. Token holders can access the Fund in digital wallets through the Benji Investments app available on mobile app stores.
Image: Investopedia
