- $270M AUM recorded on the Fund by March 31, 2021.
- Stellar Development Foundation (SDF) supports the Stellar Blockchain Network.
On Monday, Franklin Templeton, a global investment management organization gave an announcement. It says Franklin OnChain U.S. Government Money Fund (aka ‘The Fund’) recorded $270 million in Assets Under Management (AUM) till March end of 2021.
It is mentioned that the Fund utilizes the Stellar blockchain network for all activities including transactions, and record share ownership. Moreover, the Fund is registered under the U.S. Government. It is available on the Benji Investments Application for transactions and records share ownership.
What Does Stellar Development Foundation Do?
The Head of Digital Assets at Franklin Templeton, Roger Bayston said, the digital asset ecosystem will drastically exchange blockchains like Stellar. It opts for its futuristic investments and assets to rely on blockchain. Additionally, the potential increase of interoperability depicts the Fund as an integration between financial systems and blockchain technology. Henceforth, the Stellar Development Foundation, a non-profit organization made it easier for a million-dollar investment in the Fund.
The CEO of Stellar Development Foundation, Denelle Dixon said,
“Stellar is built and optimized for asset tokenization, and the Franklin OnChain U.S. Government Money Fund exemplifies the blockchain’s usability.”
This Fund, a regulated act of 1940 provides majorly 99.5% of assets to government securities. The main aim of the investment is to sustain a stable $1 price on shares.
Moreover, the Franklin OnChain U.S. Government Money Fund has shares to which one is represented through one BENJI token. Stellar Development Foundation (SDF) takes care of further functionalities of such tokens in a digital ecosystem. Additionally, it helps through technical support for the growth and development of the public Stellar blockchain network.
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