Treasury & money marketActive

Franklin OnChain U.S. Government Money Fund

Value (USD)$664.33M2026-09-30

Wallet holders1,1272026-09-30

Minimum investmentVaries by chain per Aug 2026 prospectus: USD 20 (Stellar), USD 100 (Aptos, Base, Solana), USD 1,000 (Polygon, Arbitrum), USD 20,000 (Avalanche), USD 5,000,000 (Ethereum)

Yield—Unverified

Overview

FOBXX is a US-registered government money market fund in which one share is represented by one BENJI token. The fund's transfer agent keeps the official shareholder register using a proprietary system integrated with several public blockchains. It seeks a stable $1.00 share price, declares income daily and is accessed through the Benji app or an institutional web portal.

At least 99.5% in US government securities, cash, and repurchase agreements collateralised by government securities or cash

Product structure

Lowest eligible investor type: Retail investors

US persons: Accepts US persons

Investor eligibility: Individual and institutional investors buying directly from the fund (intended for US residents); not available via financial intermediaries, employer retirement plans or IRAs

Classification of public offering terms, not a determination of your eligibility. Check the offering documents.

Legal wrapper: US open-end management investment company (1940 Act), government money market fund under Rule 2a-7; series of a Delaware statutory trust
Domicile: United States
Regulatory status: Registered with the SEC under the Investment Company Act of 1940; shares registered under the Securities Act of 1933 (Form N-1A)
Asset segregation: Assets held by a registered investment company (1940 Act fund) with a third-party bank custodian; no separate SPV disclosed
Custodian: JPMorgan Chase Bank
Fund administrator: Franklin Templeton Services, LLC (sub-administrator: JPMorgan Chase Bank, N.A.)
Auditor: PricewaterhouseCoopers LLP
Transfer agent: Franklin Templeton Investor Services, LLC; official record of share ownership maintained via a proprietary blockchain-integrated system
Tokenization agent: Franklin Templeton in-house (Benji platform; transfer agent's proprietary blockchain-integrated system)
Proof of reserve: Unverified

Redemption & liquidity

Redemption terms: Redemptions via Benji app or Institutional Web Portal on business days; proceeds sent by electronic funds transfer (ACH/Fedwire) within seven days of a request in proper form; USD settlement
Secondary liquidity: Peer-to-peer transfers between holders permitted since April 2024, only between active whitelisted wallets registered with the transfer agent; not listed on any exchange
Yield mechanism: Distribution: income dividends declared daily and automatically reinvested as additional shares/tokens at $1.00 NAV

Fees

Management fee 0.15%; net total annual operating expenses 0.20% after fee waiver through 31 July 2027

On-chain information

StellarPolygonAptosAvalanche C-ChainArbitrumEthereumSolanaBase

Token standard: Native asset on Stellar; ERC-20 on EVM chains; SPL on Solana; Aptos FA on Aptos
Transfer restrictions: Whitelist/KYC-gated; both parties must hold permissioned wallets registered with the transfer agent

Contract addresses: unverified

Notes & material events

Described by Franklin Templeton as the first US-registered fund to use a public blockchain to process transactions and record share ownership. Rated AAAmmf (Fitch) and AAAm (S&P) per rwa.xyz. Smart contracts (Arbitrum deployment) reviewed by Trail of Bits in Sep 2023 per the fund's Arbitrum STEP application. Holder count per rwa.xyz on-chain data.

Revision history

No published revisions.

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