Franklin Templeton enables peer-to-peer transfers for its $380 million money market fund via its BENJI token on Stellar and Polygon blockchains.

The Franklin OnChain U.S. Government Money Fund (FOBXX) investors can now transfer the fund’s BENJI token directly between each other without any intermediary.

The token, available on the Stellar (XLM) and Polygon (MATIC) blockchains, represents shares in the fund that holds government securities, cash, and repurchase agreements, providing a steady yield to token holders.

According to Jason Chlipala, chief business officer of Stellar Development Foundation, enabling peer-to-peer transfers puts Franklin Templeton at the forefront of the financial sector, promoting openness, transparency, and accessibility.

This development is impor

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Author: Bralon Hill

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