Thursday that it has enabled peer-to-peer token transfers for its $380 million tokenized money market fund, a key step to make the offering more interconnected to the broader digital asset economy similar to rivals.blockchains, represents shares in the fund that holds government securities, cash and repurchase agreements and pays out a steady yield to token holders.
The development is important because transferability allows to expand the token's utility in the future such as trading on secondary markets or using it as collateral for loans in the decentralized finance platforms. "Eventually, we hope for assets built on blockchain rails to work seamlessly with the rest of the digital asset ecosystem," Roger Bayston, head of digital assets at Franklin Templeton, said in a press release.
Tokenized U.S. Treasuries are at the forefront of the race to bring traditional financial assets such as bonds to blockchain rails – also known asto $1.2 billion, growing tenfold since early 2023, as digital asset investors have been seeking safe yields for their blockchain-based cash holdings.with Securitize, which have already allowed peer-to-peer token transfers, carved out a significant market share and are closing in on Franklin Templeton's offering.
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Source: CoinDesk - 🏆 291. / 63 Read more »
Source: CoinDesk - 🏆 291. / 63 Read more »