Wall Street giant Franklin Templeton said on Wednesday that its OnChain U.S. Government Money Fund, aka FOBXX, is now available on Solana.

Listed on the Nasdaq, the $594 million money market fund is tokenized, meaning its shares are issued as digital assets across various networks. Investors are able to access FOBXX using Franklin Templeton’s Benji Investments mobile app, which serves as a digital wallet.

First launched in 2021, FOBXX enables investors to gain exposure to U.S. government securities, cash, and repurchase agreements. Maintaining a share price of $1, the fund’s BENJI token closely resembles a yield-bearing stablecoin.

Franklin Templeton’s expansion to Solana signifies