Aptos and Franklin Templeton's onchain money market fund FOBXX
Quote362 words
Franklin Templeton expanded its OnChain U.S. Govt Money Fund (FOBXX, $440M across chains) to Aptos as the chain's TVL passed $1B. Argues Move's security and performance suit tokenized assets, citing $16.1T projected tokenization by 2030.
Key claims
FOBXX has $440M market cap across chains, third largest onchain treasury product behind BUIDL and USDY
Aptos TVL is $1B with 7.5M monthly active users
Tokenized assets projected to reach $16.1T by 2030
Tokenization is a trillion $$$ market opportunity and @Aptos is among the leading players at the next frontier of DeFi.
That's why this week, @FTI_US announced the expansion of its OnChain U.S. Govt Money Fund $FOBXX to @Aptos, while total TVL on the chain breaches $1B.
TL;DR of what is happening and what sets @Aptos apart. ↓
The @FTI_US fund allows investors to hold US government securities via Franklin Templeton’s Benji Investments app, and was the first U.S.-registered fund using a public blockchain to record transactions & share ownership.
With a total market cap of $440M across chains, $FOBXX is the third largest treasury product on-chain, only behind @BlackRock's $BUIDL and @OndoFinance's $USDY.
@Aptos, a high-performance L1 running a MoveVM capable of processing up to 160,000 transactions per second (TPS) at fees as low as $0.001, is the ideal base layer to bring these investment products on-chain and making them accessible at global scale.
That's why after previously launching the fund on Stellar, Polygon, Arbitrum and Avalanche, @FTI_US is now expanding into this high-growth ecosystem.
Combined with the language-level security that Move as a language provides and the more expressive environment that @Aptos provides compared to EVM chain competitors, Aptos further provides a great home for advanced financial applications that require the unprecedented security and performance of a chain like Aptos.
More on Move here: t.co/qXDWSxJ6x5
What's undeniable at this point, it that the ecosystem bears great potential to play a key role in bringing trillions of tokenized assets on-chain.
Today, the global asset management industry stands at >$126 trillion AUM, and tokenized assets are projected to reach $16.1 trillion by 2030.
This could be an enormous growth driver for the @Aptos DeFi ecosystem, which currently stands at $1B in total value locked and counts 7.5 million monthly active users (vs. 12M on Ethereum).
Ecosystem growth (fueled by the bullish news) is currently taking off, with all large DeFi protocols displaying double-digit % increases in TVL over the past 30 days.
Have been telling you long enough, but DYOR on @Aptos anon.
Linking my RWA article from July here too if you want to learn more about the tokenization opportunity. ↓
x.com/zerokn0wledge_/status/1842172218245075414
2 images on X