Franklin Templeton’s FOBXX Launch on Solana Signals Potential Growth in Tokenized Money Markets

• Franklin Templeton has positioned itself at the forefront of blockchain investment by launching its tokenized money market fund, FOBXX, on the Solana platform.

• With approximately $600 million in assets, FOBXX now secures its place as the third-largest tokenized money market fund currently available.

• RWA markets are witnessing a significant surge, projected to reach a staggering $30 trillion by 2030, according to recent market analyses.

Franklin Templeton expands blockchain presence with the launch of FOBXX on Solana, holding $600 million and poised to tap into the $30 trillion RWA market.

Franklin Templeton Introduces FOBXX On Solana

Initially launched in 2021, the FOBXX fund has now claimed its status as the third-largest tokenized money market fund, with its total asset value nearing $600 million. This remarkable step marks the fund’s transition to the Solana blockchain, enhancing transaction speed and efficiency.

Noteworthy is the fact that FOBXX is the first mutual fund globally to implement blockchain technology for streamlining transaction processes and ensuring transparent share ownership. Each share is represented digitally through a BENJI token, aligning traditional finance with innovative crypto solutions.

Prior to its launch on Solana, FOBXX was accessible on various blockchains, including Arbitrum, Coinbase’s Base, Polygon, Ethereum, Avalanche, and Aptos. Meanwhile, Stellar has been identified as the fund’s primary blockchain.

“New chain unlocked. BENJI is now live on Solana! Solana is a fast, secure, and censorship-resistant Layer 1 blockchain encouraging global adoption via its open infrastructure,” stated Franklin Templeton in an announcement on social media.

Franklin Templeton aims to be a leader within a growing ecosystem of real-world assets (RWAs) on Solana, joining other players such as LibreCapital’s private credit fund, government bonds from Etherfuse, and real estate assets provided by MetaWealth.

Additionally, the asset manager has been actively engaging with the cryptocurrency market. In the previous year, it rolled out Bitcoin and Ethereum exchange-traded funds (ETFs) and is now pursuing SEC approval for a Crypto Index ETF. Recently, on February 10, the company registered a Delaware-based trust associated with a Solana ETF.

The RWA sector is currently witnessing a remarkable expansion, emerging as a leading performance driver in the early months of 2025. The sector has demonstrated a 10.0% increase year-to-date and a noteworthy 27.3% rise over the last month.

RWA Performance in 2025. Source: Artemis

The RWA sector has shown resilience amidst a fluctuating market landscape, experiencing substantial growth against the backdrop of economic volatility stirred by macroeconomic conditions, including geopolitical tensions and regulatory changes. At present, the sector’s Total Value Locked (TVL) has achieved an all-time high, with a reported TVL of $8.65 billion, as indicated by DefiLlama.

While the current growth trajectory of RWAs appears promising, forecasts indicate an even brighter future. A report by Security Token Market (STM.Co) anticipates that tokenized RWAs could surge to a staggering $30 trillion by 2030, with an optimistic outlook proposing that this figure could potentially rise to $50 trillion.

Conclusion

In summary, Franklin Templeton’s recent launch of FOBXX on the Solana blockchain exemplifies its commitment to innovating within the financial space through blockchain technology. This initiative not only strengthens its market position but also contributes to the broader growth of tokenized real-world assets. With the RWA sector’s current expansion and optimistic future projections, industry participants should pay close attention to how this market evolves over the coming years.