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Franklin Templeton Announces the Franklin OnChain U.S. Government Money Fund Surpasses $270 Million in Assets Under Management

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First U.S.-registered mutual fund to process transactions and record share ownership on Stellar blockchain

San Mateo, CA, April 24, 2023Franklin Templeton today announces the Franklin OnChain U.S. Government Money Fund (FOBXX) (the “Fund”) has surpassed $270 million in assets under management (AUM) as of March 31, 2021. The Fund’s transfer agent maintains the official record of share ownership via a proprietary blockchain-integrated system that currently utilizes the Stellar blockchain network for transaction activity. The Fund is the first U.S.-registered fund to use a public blockchain to process transactions and record share ownership, and is available via the Benji Investments app.

“We believe that blockchain technologies have the potential to reshape the investment management industry by providing greater transparency and lower operational costs for traditional financial products. Blockchains like Stellar’s are important to the investment process of the future, and assets built on blockchain rails, like the Franklin OnChain U.S. Government Money Fund, will eventually be interoperable with the rest of the digital asset ecosystem,” said Roger Bayston, Head of Digital Assets at Franklin Templeton.

The Fund reflects a meaningful integration between blockchain technology and traditional financial institutions, demonstrating the potential for increased interoperability in the financial system. This innovative investment vehicle motivated the Stellar Development Foundation to further diversify its treasury by making a multi-million dollar investment into the Fund.

“Stellar is built and optimized for asset tokenization, and the Franklin OnChain U.S. Government Money Fund exemplifies the blockchain’s usability,” said Denelle Dixon, CEO and Executive Director of the Stellar Development Foundation. “Stellar is evolving traditional financial products and processes, making markets more accessible, and empowering more people.”

Franklin OnChain U.S. Government Money Fund offers a competitive yield. The Fund is a regulated 1940 act fund that invests at least 99.5% of its total assets in government securities, cash and repurchase agreements collateralized fully by government securities or cash. The Fund’s investment goal is to provide investors with as high a level of current income as is consistent with the preservation of shareholders’ capital and liquidity and aims to maintain a stable $1.00 share price.

One share of the Franklin OnChain U.S. Government Money Fund is represented by one BENJI token. Token holders can gain exposure to the fund in digital wallets through the Benji Investments app, available in mobile app stores. Stellar Development Foundation continues to recognize the functions and potential applications for these tokens in the digital ecosystem.

Stellar Development Foundation is a non-profit organization founded in 2014 to support the development and growth of the open-source Stellar blockchain network. The Foundation helps maintain Stellar’s code base, supports the technical business communities around Stellar, and is a speaking partner to regulators and institutions.

About Franklin Templeton

Franklin Resources, Inc. [NYSE:BEN] is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 155 countries. Franklin Templeton’s mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company offers boutique specialization on a global scale, bringing extensive capabilities in equity, fixed income, multi-asset solutions and alternatives. With offices in more than 30 countries and approximately 1,300 investment professionals, the California-based company has 75 years of investment experience and approximately $1.4 trillion in assets under management as of March 31, 2023. For more information, please visit and follow us on LinkedIn, Twitter and Facebook.

About Stellar Development Foundation

The Stellar Development Foundation (SDF) is a non-profit organization that supports the development and growth of Stellar, an open-source network that connects the world’s financial infrastructure. Founded in 2014, the Foundation helps maintain Stellar’s codebase, supports the technical and business communities building on the network, and serves as a voice to regulators and institutions. The Foundation seeks to create equitable access to the global financial system, using the Stellar network to unlock the world’s economic potential through blockchain technology. For more information, visit

About Stellar

Stellar is a decentralized, fast, scalable, and uniquely sustainable network for financial products and services. It is both a cross-currency transaction system and a platform for digital asset issuance, designed to connect the world’s financial infrastructure. Financial institutions worldwide issue assets and settle payments on the Stellar network, which has grown to over 7 million accounts. For more information, visit

You could lose money by investing in the Fund. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund’s sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time.

Investors should carefully consider a fund’s investment goals, risks, charges and expenses before investing. To obtain a summary prospectus and/or prospectus, which contains this and other information, talk to your financial professional, call us at (800) DIAL BEN/342-5236 or visit Please carefully read a prospectus before you invest or send money.