Franklin Templeton Expands Its Tokenized Fund FOBXX to the Aptos Blockchain

With this expansion, institutional investors can now access FOBXX through the Benji Investments platform and allow investors to hold their digital wallets on Aptos.

Franklin Templeton, a leading asset management firm, has announced the expansion of its tokenized fund, the Franklin OnChain U.S. Government Money Fund (FOBXX), to the Aptos blockchain.

With this move, institutional investors can now access FOBXX through the Benji Investments platform and hold their digital wallets on Aptos.

“Today’s announcement is an important milestone in our ongoing journey to unlock new asset management capabilities with blockchain technology,” said Roger Bayston, Head of Digital Assets at Franklin Templeton.

What is FOBXX?

Launched in 2021, FOBXX became the first U.S.-registered mutual fund to adopt blockchain technology, initially utilizing the Stellar network. Its shares are tokenized and represented by the BENJI token, maintaining equal value.

The fund is regulated under the 1940 Act and invests at least 99.5% of its total assets in government securities and other financial instruments collateralized by these securities.

With the Aptos expansion, FOBXX now operates on five different blockchains, including Avalanche, Arbitrum, Stellar, and Polygon. At their request, investors can hold their wallets on the Aptos network for easier management of their digital assets.

Franklin Templeton joins a growing list of Wall Street giants that have successfully launched spot Bitcoin and Ethereum ETFs this year, reflecting a broader acceptance of digital assets in mainstream finance.

Why Aptos?

The recent announcement highlighted that Aptos was chosen for this expansion due to its compatibility with Franklin Templeton's Benji blockchain-integrated system. Bayston emphasized the network's unique characteristics, which meet the firm's rigorous suitability standards.

Since its launch in October 2022, Aptos has ascended to become one of the top 25 digital assets by market capitalization.

The network has also witnessed substantial usage, with daily transaction volumes recently hitting highs of over 3 million, according to The Block data. Per DeFillama, the platform boasts over $576 million in total value locked across DeFi activities.

Strategic Acquisition: HashPalette

In related news, on Oct. 3, Aptos Labs announced an agreement to acquire HashPalette Inc., a subsidiary of HashPort Inc. This acquisition will see the Palette blockchain and HashPalette's applications being migrated to the Aptos Network, including the EXPO2025 DIGITAL WALLET for the upcoming Expo 2025 in Osaka, Japan.

BIG NEWS: We've agreed to acquire @hashpalette_en, the pioneers behind Japan's Palette Chain! This is a game-changer for Japan & the Aptos ecosystem. ?This underscores our commitment to Japan, supercharging their booming digital economy with @Aptos cutting-edge tech ⚡? pic.twitter.com/NjAYhT7ez1

By leveraging HashPalette's strong relationships with major Japanese businesses, including KDDI, Aptos Labs aims to enter the Japanese market. This deal will enable Aptos to drive Web3 adoption across sectors like entertainment, gaming, and digital assets.

Meanwhile, starting in late November, holders of Palette Chain's governance token, PLT, will be able to exchange their tokens for APT, Aptos's native token. The exchange process will involve a one-year lock-up period on APT tokens to ensure a smooth transition

Commitment to Japanese Enterprises and Ecosystem

Furthermore, Aptos Labs has forged a strategic partnership with HashPort, one of Japan's leading blockchain consulting and solutions companies. This collaboration will reportedly empower HashPort to develop blockchain solutions for its enterprise clients using Aptos Network’s infrastructure.

Aptos Labs also plans to support local developers, NFT creators, and enterprises to create a robust Japanese Web3 community. The company aims to collaborate with universities, research institutions, and startups to cultivate an ecosystem rich in blockchain innovation.

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