United States tokenized securities are predominantly held by Franklin Templeton and BlackRock funds.
United States Treasurys tokenized on public blockchains surpassed $1 billion as traditional financial firms continued to load securities on-chain amid a prolonged period of elevated interest rates.
Data compiled by 21.co and Dune Analytics shows that tokenized government securities stood at $1.07 billion in assets on March 28, distributed across 17 products. A majority of the assets are based on the Ethereum, Polygon and Stellar networks.
Leading the issuers is investment firm Franklin Templeton, with over $360.1 million in assets and 33.6% of the market share through its Franklin OnChain U.S. Government Money Fund (FOBXX). Using the Polygon and Stellar blockchains, the tokenized fund launched in 2021 and is represented by the BENJI token.