Franklin Templeton has launched its tokenized money market fund, the Franklin OnChain U.S. Government Money Fund (FOBXX), on the Solana blockchain. This marks the fund's availability on eight different blockchains. FOBXX invests 99.5% of its assets in U.S. government securities, cash, and repurchase agreements backed by U.S. government securities or cash, offering a 4.55% annual percentage yield (APY). The fund, part of Franklin Templeton's $1.3 trillion in assets under management (AUM), had a market cap of nearly $594 million as of February 11, 2025, with 544 holders, reflecting a 2.5% increase in holder growth over the past 30 days. The deployment on Solana is expected to boost the blockchain's tokenized money fund ecosystem, which had issued nearly $136 million in tokenized shares as of February 11. The broader tokenized money fund market experienced significant growth in 2024, reaching a market cap of $3.6 billion in early 2025, with Ethereum dominating the sector.