Franklin Templeton's OnChain U.S. Government Money Market Fund is now tradable on Coinbase's Base blockchain. This is the first instance of an asset manager developing on this layer-2 blockchain.

The fund boasts a $410 million market cap and is also accessible on five other blockchains, primarily Stellar.

Key Highlights:

• This launch positions Franklin Templeton as a pioneering asset manager delving into this blockchain space.
• Anthony Bassili, the head of tokenization at Coinbase, remarked, "This is the first large asset manager to directly launch on Base, a clear signal to investors and issuers of what’s to come."
• Since going live in 2022, Base has evolved into a crucial component of Coinbase’s strategy, achieving more than $8 billion in total value locked (TVL).
• The fund not only enhances the portfolio of financial products but also modernizes investment systems by leveraging on-chain technology.
• Launched in 2021, this fund was the first to utilize a public blockchain for transactions, now rated as the second-largest tokenized investment vehicle in the market.