Franklin Templeton announced today that as of March 31, 2021, the Franklin On-Chain U.S. Government Money Fund (FOBXX) (“Fund”) has over $270 million in assets under management (AUM). The fund's transfer agent maintains official records of share ownership through a proprietary blockchain-integrated system that currently utilizes the Stellar blockchain network for transactional activity. The fund is the first U.S.-domiciled fund to use a public blockchain to process transactions and record ownership of shares.

It is reported that one share of the Franklin OnChain US Government Monetary Fund is represented by a BENJI token. Token holders can access the fund in a digital wallet through the Benji Investments app available in the mobile app store. The fund invests at least 99.5% of its total assets in U.S. government securities, cash and repurchase agreements fully collateralized by U.S. government securities or cash.