On February 12, Franklin Templeton introduced that the tokenized cash fund, the Franklin On-Chain US Authorities Cash Fund (FOBXX), has been deployed to Solana. The fund is now accessible on eight completely different blockchains.

In line with the Franklin Templeton web site, FOBXX is totally secured by US authorities securities, money and repurchase agreements for 99.5% of whole belongings in US authorities securities or money. Offers an annual yield (APY) of 4.55%.

The Tokenized Cash Fund is a real-world fund through which shares are digitally issued on the blockchain, providing a secondary market with no downtime.

FOBXX’s market capitalization is sort of $594 million as of February eleventh, making it the third largest cash fund with tokenized shares. The fund has 544 holders, a rise of two.5% over the previous 30 days.

The minimal quantity of FOBXX is offered at APTOS, totaling $21.4 million. Consequently, Solana’s FOBXX integration might present a much-needed increase to the community’s tokenized cash fund ecosystem.

As of February eleventh, Solana had about $136 million tokenized shares issued, lower than 4% of the sector’s market capitalization.

Over $3.5 billion

The tokenized cash fund sector achieved a large development of 415% in 2024, closing the yr with a market capitalization of almost $4 billion. The trade’s historical past was almost $4.2 billion, and was registered on January seventh.

As of February eleventh, tokenized cash funds have a market capitalization of $3.6 billion, down roughly 15% from their peak. Nonetheless, it was greater than 4 occasions the market capitalization registered on the identical date final yr.

Ethereum dominates the market and hosts greater than $2.4 billion in tokenized shares. The second largest community is unbelievable, with almost $380 million within the share model of the digital cash fund. That is primarily as a result of $372 million FOBXX issued on the community.

Along with Ethereum and Stellar, not one of the different 13 blockchains tracked by RWA.xyz didn’t attain the $150 million tokenized cash fund inventory threshold.

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