Franklin Templeton tokens Gelder on Polygon and Stellar for P2P transfers

• Franklin Templeton token the US GOV Money Fund on polygon and Stellar for P2P transfers.
• Franklin Templeton competes with the Blackrock Buidl Fund based on Ethereum in the niche of the tokenized assets.
• Franklin Templeton holds a market share of 32 %.

In a step that is significant progress in the field of digital asset management, Franklin Templeton has announced the tokenization of his US government fund on the blockchain polygon and Stellar.

By using blockchain technology, Franklin Templeton would like to enable Peer-to-Peer-Transfers for shares in his Franklin Onchain United Government Money Fund (FOBXX), which is represented by the Benji token.

competition for Buidl from Blackrock

The initiative of Franklin Templeton takes place in the middle of a competitive landscape, whereby the new Bauidl fund of Blackrock is an excellent competitor in the field of tokenization.

The BUIDL fund from Blackrock quickly gained market shares through the partnership with securitize on Ethereum, although it easily lies in with regard to the managed assets (assets under management, AUM).

The competition between these two investment giants is likely to worsen because they are struggling to dominate in the niche of the tokenized US state bonds. Franklin Templeton currently claims its strength in the niche of the tokenized US state bonds and has a considerable market share of 32 %.

Expansion of the benefit in the ecosystem of digital assets

The tokenization of Franklin Templeton's US government funds is a strategic step to improve connectivity within the ecosystem for digital assets.

By enabling Peer-to-peer transfers from Benji-tokens, the company would like to expand the benefits of its fund and enable investors to gain greater flexibility in the management of their assets. The step underlines the commitment of Franklin Templeton to use blockchain technology for innovations and the adaptation of developing market trends.