All news is rigorously fact-checked and reviewed by leading blockchain experts and seasoned industry insiders.
- Three years ago, $1.7 trillion asset manager Franklin Templeton expanded its FOBXX tokenized fund to Polygon.
- Since then, it has expanded from $270 million in assets under management to $1 billion.
Three years ago, American asset manager Franklin Templeton expanded its OnChain U.S. Government Money Fund (FOBXX) to the Polygon blockchain. Since then, the assets under its management have quadrupled, surpassing $1 billion.
The Ethereum sidechain showcased the achievement recently, stating that when Franklin Templeton “needed a public blockchain to run the first U.S.-registered government money fund, they chose Polygon.”
Franklin Templeton manages $1.7T in assets.
When they needed a public blockchain to run the first U.S.-registered government money fund, they chose Polygon. pic.twitter.com/VsI0BNapsW
— Polygon | POL (@0xPolygon) March 18, 2026
Polygon says that FOBXX launched with $270 million in assets under management and has since surged past $1 billion as demand for tokenized funds skyrockets.
FOBXX was the first US-registered mutual fund that used a public blockchain network to process transactions and record ownership. Franklin maintains an official record of share ownership through a proprietary blockchain system, now available on multiple networks. The fund invests 99.5% of its assets in government securities like treasuries and bonds, cash and repurchase agreements, offering holders highly liquid, short-term, and low-risk investments.
FOBXX first launched on Stellar in 2021, two years before expanding to Polygon. Announcing the expansion, Roger Bayston, the head of digital assets at Franklin, stated, “Extending the reach of the Franklin OnChain U.S. Government Money Fund to Polygon enables the fund to be further compatible with the rest of the digital ecosystem, specifically through an Ethereum-based blockchain.”
The fund has been instrumental in Polygon’s push into the tokenized RWAs sector. According to data from rwa.xyz, the network currently holds $380 million in tokenized RWAs, the ninth-highest in a market dominated by Ethereum and BNB Chain.
Tokenized RWAs Market Surges
The tokenization of real-world assets continues to set the pace, attracting some of the biggest names in traditional finance, from Franklin Templeton and BlackRock, to Janus Henderson and ChinaAMC.
The latest to target the sector is Flow Traders, a crypto market maker, which unveiled a 24/7 over-the-counter trading platform for tokenized equities, commodities and money market funds. Flow provides ‘two-way liquidity’ for leading assets like FOBXX’s BENJI token, which allows users to trade outside traditional market hours.
Flow CEO Thomas Spitz says tokenization will be one of the defining steps in the evolution of investment structures. Paolo Ardoino, the CEO of Tether, whose Tether Gold (XAUT) will be among the supported assets, added:
As tokenised commodities continue to gain traction, improving liquidity and accessibility will be essential for bringing these assets to a wider global audience.
Flow joins one of its main rivals, Wintermute, which launched institutional over-the-counter trading for gold-backed digital tokens last month. At launch, it supported the two largest gold-backed tokens in the market: Paxos Gold and Tether Gold. Tokenized gold tokens recorded $126 billion in trading volume in the last quarter of 2025, surpassing the volume of the five largest gold ETFs for the first time.
