Franklin Templeton, one of the giants of Wall Street, just announced the expansion of the OnChain U.S. Government Money Fund (FOBXX) to the Solana blockchain. This move puts Franklin Templeton ahead of major competitor BlackRock in the race to harness the potential of the digital asset market.

🚀 FOBXX: A Highly Potential Digital Currency Fund

  • #FOBXX is a currency fund valued at 594 million USD, digitized as digital assets across multiple blockchain networks.

  • Investors can access FOBXX through the Benji Investments app, which functions as a digital wallet.

  • FOBXX allows investors to access US government securities, cash, and repurchase agreements, with each share maintaining a value of 1 USD, similar to a profitable stablecoin.

🌐 Expansion to Solana: A Strategic Move

  • The expansion to Solana helps FOBXX enter one of the most vibrant DeFi ecosystems today.

  • Solana currently has a total value locked (TVL) of up to 9 billion USD, ranking second after Ethereum in the DeFi space, according to data from #DeFiLlama .

  • This move helps Franklin Templeton easily attract users from Solana's large DeFi community, while also affirming its pioneering position in the digital currency fund sector.

⚔️ Fierce Competition With BlackRock

  • #FranklinTempleton faces strong competition from BlackRock – the financial giant with the USD Institutional Digital Liquidity Fund (BUIDL) on Ethereum.

  • BUIDL currently has a market capitalization of 637 million USD, surpassing the BENJI token from FOBXX since April 2025.

  • While BUIDL expands to 5 new blockchains in November including Aptos, Avalanche, $ARB , Optimism and $POL , Franklin Templeton selects $SOL as a strategic move to differentiate and expand its user base.

🔮 A Bright Future For The Digital Asset Market

  • Larry Fink, CEO of BlackRock, once stated that tokenization is the 'next step in the financial market', with the potential for instant payment and reduced transaction fees.

  • According to forecasts from Standard Chartered bank, the tokenization market could reach a value of up to 30 trillion USD by 2034.

  • Both Franklin Templeton and BlackRock are racing to expand their digital currency funds to dominate this highly potential market.

🚨 Conclusion

Franklin Templeton's expansion of FOBXX to Solana not only anticipates the trend of digitized assets but also creates a differentiation from competitor BlackRock.
This move promises to drive the development of DeFi on Solana and open new doors for investors to access digital currency funds more safely and flexibly.