From rooted blockchain projects stellarannounced an important collaboration to expand its technology to wider markets. A US-based fund will use Stellar’s blockchain network to record transactions and share ownership.
📢 Big news! Franklin Templeton’s (@FTI_DA) OnChain US Government Money Fund is now available on the Stellar network through the Benji Investments app. The first mutual fund to use public blockchain technology for transactions and share ownership. https://t.co/LAbSwSS7MU
— Stellar (@StellarOrg) April 24, 2023
According to the statement made on Stellar’s official Twitter account, leading investment holding Franklin Templeton DOBXX coded American money fund will also process the data on the Benji Investments platform into the XLM network. Thus, Templeton blockchain He became the first American mutual fund manager to store data using its network.
The DOBXX fund currently manages $270 million in assets. Managers use 99.5% of this amount by investing in cash and government bonds.
In a statement after the agreement, the Stellar team stated that they attach great importance to the integration of traditional finance and blockchain technology.
XLM Price
Native token after partnership announcement between Franklin Templeton and Stellar XLM There was no additional movement in the price.
XLM has lost 13% in the last week.
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