Franklin Templeton Expands OnChain U.S. Government Money Fund to Polygon Blockchain

Franklin Templeton has announced the expansion of its OnChain U.S. Government Money Fund to the Polygon blockchain, following its initial availability on the Stellar blockchain in 2021. With approximately $1.4 trillion in assets under management, Franklin Templeton intends to broaden the compatibility of the fund to the digital ecosystem by integrating with an Ethereum-based blockchain.

According to a Franklin Templeton spokesperson, the Polygon blockchain will serve as the second blockchain the fund will support, with the possibility of extending to more networks in the future. Head of Digital Assets at Franklin Templeton, Roger Bayston, noted that the expansion of the fund’s reach to Polygon will enable a wider market distribution through a Layer 2 blockchain, known for its dependable track record.