Franklin Templeton Makes its Blockchain Fund Available on Avalanche’s Blockchain

Global asset management firm Franklin Templeton has announced the expansion of its Franklin OnChain US Government Money Fund to the Avalanche network.

This move marks the first time a money market fund has been integrated with a layer-1 blockchain.

The fund, which was launched in 2021, allows institutional investors to access Franklin Templeton’s blockchain-based record-keeping platform, Benji Investments.

Investors can now hold their wallets on the Avalanche network, subject to eligibility.

This expansion to Avalanche is a part of Franklin Templeton’s ongoing efforts in the digital asset space, as the firm’s digital assets teams have been focused on blockchain technology since 2018.