Franklin Templeton's tokenized U.S. Equity Index ETF (USPX) has officially gone live on the Mantle network, now tradable around the clock on the decentralized exchange Fluxion. The tokenized product, known as $USPXx, is issued by xStocksFi and represents a roughly $2 billion slice of the U.S. equity market.
$USPXx Goes Live on Mantle and Fluxion
USPX is a U.S. stock index ETF issued by Franklin Templeton that tracks the performance of large-cap U.S. equities. Its tokenized deployment on Mantle marks a further integration of traditional financial assets into the on-chain ecosystem. Mantle's official announcement states that this is the first time the ETF has been distributed on an on-chain venue, with Fluxion being one of the first DEXs to support the asset.
Tokenized ETF Trading and Ecosystem Implications
According to Mantle's tweet, $USPXx tokens can be traded 24/7 on the Fluxion network, providing global investors with easier access to the U.S. equity market. xStocksFi, the issuer, handles the tokenization of the traditional ETF, giving it on-chain composability and liquidity.
Franklin Templeton is a leading global asset manager that has been actively expanding into digital assets. The launch of its tokenized ETF sets a precedent for bringing traditional financial assets onto blockchain networks. Mantle, as an Ethereum Layer 2 network, offers high throughput and low transaction fees, making it suitable for high-frequency trading of such assets. Fluxion, a DEX built on Mantle, provides decentralized trading services to users.