Stellar (XLM) announces exciting milestone for first registered US fund on network XLM $XLM StellarWolfpack StellarNetwork Blockchain
Per the announcement, the fund's transfer agent maintains the official record of share ownership via a proprietary blockchain-integrated system that currently utilizes the Stellar blockchain network for transaction activity.
Stellar also revealed an exciting milestone for the first registered U.S. fund on its network, which surpassed $270 million in assets under management . The development is significant as it shows the potential for greater interoperability in the financial system by reflecting a considerable integration between blockchain technology and traditional financial institutions.
The on-chain U.S. Government Money Fund from Franklin Templeton is a 1940 Act fund that invests at least 99.5% of its total assets in cash, government securities and repurchase agreements collateralized fully by government securities or cash.
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