BounceBit Expands into Tokenized Money Market Funds with Franklin Templeton Integration
BounceBit, a leading platform in the tokenized assets market, has announced its integration with Franklin Templeton, a renowned asset manager. This collaboration brings Franklin Templeton’s tokenized money market fund to BounceBit’s platform, specifically to its BounceBit Prime product.
Unlocking Structured Yield Strategies
The integration marks a significant milestone for BounceBit, making it the go-to platform for structured yield in the real-world assets (RWA) market. By adding Franklin Templeton’s money market fund to BounceBit Prime, investors can now access a tokenized money market fund that acts as both collateral and settlement on the platform.
Capital Efficiency and Yield Opportunities
This move aims to make investing in the RWA ecosystem more capital-efficient than passive holdings. Traders can benefit from both the exposure to the underlying RWA yield of approximately 4.5% from Franklin Templeton’s fund and the yield opportunities that come with the asset’s use on exchange venues.
The Future of BB Prime
“This launch sets the tone for what BB Prime will become: An execution venue for tokenized RWA — backed by institutional-grade collateral and governed by programmable logic,” BounceBit noted. This integration is a significant step forward in BounceBit’s vision for BB Prime, which is poised to become a leading execution venue for tokenized RWA.
Franklin Templeton’s Tokenized U.S. Government Fund
Franklin Templeton launched its tokenized U.S. government fund, BENJI, in 2021, which represents shares of the $692 million OnChain U.S. Government Money Fund. The fund is live on-chain across Ethereum, Solana, Stellar, and Avalanche, and has recently expanded to VeChain. Additionally, Franklin Templeton announced that its fund is now supported by crypto-friendly Anchorage Digital Bank.
RWA Market Expansion
The tokenized assets market is witnessing significant growth, with major players like BlackRock, Fidelity Investments, Janus Henderson, and Guggenheim Treasury entering the space. U.S. Treasury debt, tokenized stocks, private credit, and corporate bonds are some of the RWA assets getting increased adoption on-chain.
BounceBit’s Ambitious Plans
BounceBit plans to be a major part of the RWA market, with tokenized stock products targeted for the United States, Europe, Hong Kong, and Japan. The platform’s expansion into new markets and asset classes is expected to drive growth and adoption in the tokenized assets space.
Competition in the Tokenized Stocks Market
Meanwhile, Robinhood unveiled its new tokenized stocks platform on Arbitrum in July, allowing investors across the 30 European Union and European Economic Area to access over 200 tokenized U.S. stocks and exchange-traded funds. eToro has also announced a similar initiative, highlighting the growing competition in the tokenized stocks market.
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