Avalanche with the wind in the sails. Although he is only in the 14th place in the ranking and has been struggling to exist since the last one bull run, However, the Avalanche cryptocurrency and its eponymous network continue to attract developers and investors. No sooner had we learned that Grayscale wanted to offer an investment trust for this token than Franklin Templeton doubled his priority by announcing the deployment of his token. US Government Money Fund Franklin OnChain on the same network. The ability to realize that behind the effects of fashion and announcements, the tokenization sector is progressing in the shadows and developing in all directions on Ethereum, Solana, hence Avalanche. Let’s look at the details of this information together.
THE US Government Money Fund Franklin OnChain will soon be available on the Avalanche network
It was launched in 2021 US Government Money Fund Franklin OnChain was then the first mutual fund registered in the United States to use a public blockchain record transaction and ownership action. This fund is intended for institutional as well as retail investors who can hold tokens representing shares (or shares) of a total amount that amounts to 420 million dollars. His house stamp, BENJAMINit is accessible only through the investment application developed by the company Franklin Templeton but it is also possible to buy tokenized shares FOBXXnickname of this financial product with USDC.
FOBXX invests in low-risk United States government securities – government bonds – and like most cryptocurrencies, BENJI can be traded 24/7, which is an important advance compared to traditional finance which has so far been limited to the opening hours of the financial markets. Already deployed in the network Stellar and on two layers of 2 Ethereum that are Arbitration AND PolygonTHE US Government Money Fund Franklin OnChain arrives on the network Avalanche.
After the investment trust designed by Grayscale, the place for the Franklin Templeton fund
Head of Digital Assets at Franklin Templeton, Roger Baystonhe did not hide his enthusiasm and impatience for action:
“Bringing the BENJI platform to the Avalanche network further expands access to our first tokenized money market fund. We look forward to working with Avalanche’s vibrant developer community to bring new blockchain-enabled innovations to market. »
Roger Bayston, Head of Digital Assets at Franklin Templeton – Source: The Block
The good news keeps coming on the Avalanche network after the announcement and new investment fund suggested Grayscale a few days ago, which could revive the interest of the cryptosphere and investors in the project started by the professor Emin Gun Sirer from Cornell University in 2019.
AVAX price has also responded well, rising 11.1% in the last 24 hours and 25.0% in the last week, while the rest of the market is regaining some color. Will the flagship projects of the latest bull run, of which the Avalanche is a part, manage to climb back up and return to their 2022 highs? In any case, some financial professionals are obviously counting on it.