Franklin Templeton has converted the US government monetal fund.
The fund is now available in Ethereum, Coinbase’s Base, Appos and Avalanche, which were added last year. The stellar network works as the primary block chain. The asset manager announced the expansion on Wednesday.
Solana has become the leading place for new tokens (mainly memecoras) and decentralized trade. Now it represents more than 90% of all new tokens that appear in decentralized exchanges (DEX), according to a Panther capital report. That is more than 1% at the end of 2023.
“Even when innovation does not begin in Solana, it eventually finds their way there,” Cosmo Jiang and Eric Wallach wrote in the report.
Fobxx, which began in 2021, has grown to a market capitalization of $ 594 million, according to data from Rwa.xyx. It is left behind the short -lived performance currency (USYC) and the Blackrock’s Institutional Digital Liquidity Fund (Buidl).
Tokenization is one of the fastest growing sectors in cryptographic adoption, since institutions bring more and more traditional financial assets such as bonds, products and funds to the Blockchain economy for more efficient operations and a faster settlement. It is a multimillion -dollar market opportunity, BCG, McKinsey and Brevan Howard reports that have predicted.
Solana gathers steamed
The Ethereum intelligent contract network leads the ecosystem for tokenization efforts with a market share of 52% that represents assets of $ 3.8 billion in real world assets. It is followed by Ethereum Layer-2 Zksync, according to the data RWA.XYZ. Solana, at $ 135 million, occupies the seventh place.
The expansion of Franklin Templeton to Solana is the last sign of growing interest in the network for tokenization efforts. The real world asset platform Securitize extended its offers, including Buidl, to the network at the end of January.
Anthony Scaramucci, the founder and managing partner of the Skybridge Coverage Fund, in a Tuesday interview promoted Solana’s speed and efficiency, saying that “he will win the race” in the world of tokenization.
