Just In: Franklin Templeton Debuts First Tokenized Fund On Coinbase’s Base L2

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As a seasoned researcher with a keen interest in blockchain technology and its applications in the financial sector, I find this development particularly intriguing. Franklin Templeton, a venerable name in asset management, venturing into the world of decentralized finance through Base is an exciting leap forward.

Franklin Templeton, a well-known investment management company, has introduced its OnChain U.S. Government Money Market Fund using the layer-2 blockchain platform, Coinbase’s Base.

With this action, a well-known asset manager becomes the pioneer in offering a fund on the Base network, which is a scalability solution designed to boost transaction speed and lower expenses on the Ethereum blockchain.

Franklin Templeton Debuts Tokenized Fund On Base

As a crypto investor, I’m excited to share that my investments can now reach new heights with Franklin Templeton’s tokenized fund, FOBXX, becoming accessible on the Coinbase Base blockchain. This is a significant leap for Base, a relatively new player in the blockchain world, having launched in 2022, yet rapidly growing in popularity as a preferred layer-2 solution.

As an analyst, I’m excited to share that by integrating FOBXX onto our platform, we, at Base, are proudly onboarding our first significant asset manager. This move not only signifies a momentous step for us but also underscores the expanding impact we’re making within the Decentralized Finance (DeFi) landscape.

Anthony Bassili, the head of tokenization at Coinbase, spoke about the development, stating that Franklin Templeton’s launch serves as a “strong indication” for both investors and issuers regarding the potential benefits of Base. He underscored that more financial institutions are gravitating towards blockchain technology as it offers faster and cost-effective transactions, thereby enabling them to update traditional financial systems using blockchain solutions.

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2024-10-31 17:49