• Franklin Templeton, a large investment management firm, recently launched its OnChain U.S. Government Money Fund on the Polygon blockchain. The fund currently manages around $270 million in assets and is the first U.S.-registered mutual fund to use a public blockchain to process transactions and record share ownership.
• The cryptocurrency market has been experiencing a bear market for some time, but it seems like institutions are starting to return with this launch from Franklin Templeton.
• To gain exposure to the fund, users can download the Benji Investments app available in mobile app stores which will allow them to purchase BENJI tokens representing one share of the Franklin OnChain U.S. Government Money Fund

Franklin Templeton Launches Money Market Fund on Polygon

Franklin Templeton, one of the largest investment management firms in the world, has just launched its money market fund on Polygon. The OnChain U.S. Government Money Fund is now available on the Polygon blockchain and currently manages around $270 million in assets making it the first U.S.-registered mutual fund to use a public blockchain to process transactions and record share ownership.

Cryptocurrency Market Experiencing Bear Market

The cryptocurrency market has been experiencing a severe bear market for the past year and a half due to asset price decreases, numerous bankruptcies, and troubles with regulators that have taken the industry aback; however, it seems like institutions are starting to return with this launch from Franklin Templeton offering an example of that returning interest in cryptocurrencies as an asset class suitable for institutional investors despite current conditions in crypto markets being unfavorable overall at present time .

Gain Exposure Through BENJI Tokens

To gain exposure to this new money market fund from Franklin Templeton users can download the Benji Investments application which is available through mobile app stores where they will be able to purchase BENJI tokens representing one share of the Franklin OnChain U.S Government Money Fund allowing them access into digital wallets through Layer 2 (L2) blockchains that have proven track records already established within their platforms .

Roger Bayston’s Comments

Roger Bayston Head of Digital Assets at Franklin Templeton commented “Extending the reach of this money fund through Polygon enables us to be compatible with other digital ecosystems specifically those based on ethereum-based blockchains which allows us further distribution reach”

Conclusion

With this launch from Franklin Templeton it would seem that institutional interest is returning despite current unfavorable conditions in crypto markets as more asset classes become tokenized and more funds become accessible via digital wallets applications such as Benji Investments .