Yigit Taha OZTURK 
Leading asset manager Franklin Templeton has announced that it has added Solana support for its OnChain U.S. Government Money Market Fund (FOBXX). With a $594 million market capitalization, FOBXX is the third-largest tokenized money market fund.
Solana Gains Strength in Tokenization
Previously, this fund was available on Ethereum, Coinbase Base, Aptos, and Avalanche. Stellar remains the fund’s primary blockchain.
Recently, Solana has been receiving increased attention in the tokenization sector. According to a Pantera Capital report, while the percentage of new Solana-based tokens was 1% at the end of 2023, it now accounts for 90% of all newly issued tokens on decentralized exchanges.
In the report, Cosmo Jiang and Eric Wallach stated:
“Even when innovation doesn’t start on Solana, it eventually finds its way there.”
Tokenization Continues to Grow in the Crypto Ecosystem
Tokenization is becoming an increasingly prominent sector in crypto. Institutions aim to bring traditional financial assets (bonds, commodities, funds) onto blockchain networks for faster transaction processing and operational efficiency.
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Reports from BCG, McKinsey, and Brevan Howard suggest that the tokenization market presents a trillion-dollar opportunity.
Ethereum Leads the Tokenization Sector
With $3.8 billion worth of tokenized real-world assets, Ethereum holds the largest market share (52%) in the sector. It is followed by Ethereum Layer-2 ZKsync Era, while Solana, with $135 million in tokenized assets, ranks seventh.
Franklin Templeton’s expansion to Solana is a strong indication of the network’s growing recognition in the traditional finance space. In January, the Securitize platform also integrated BlackRock’s BUIDL fund into Solana.
Hedge fund SkyBridge founder Anthony Scaramucci highlighted Solana’s speed and efficiency in a recent interview, stating that it will lead the race in tokenization:
“Solana will win the race.”
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