Franklin Templeton has announced its plans to extend the Benji Technology Platform to BNB Chain, indicating a stronger commitment to on-chain finance.
This initiative connects one of the globe’s largest asset managers with a blockchain recognized for its low fees, quick settlements, and an increasing number of retail and institutional users.
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Institutional Push Deepens Tokenization Race
The Benji platform powers the Franklin OnChain US Government Money Fund (FOBXX), which is the first US-registered mutual fund to utilize blockchain for share ownership recording and transaction processing.
Each share corresponds to one BENJI token, facilitating daily subscriptions, peer-to-peer transfers, and real-time net asset values.
Since its inception, the fund has accumulated $742 million in assets and has distributed over $51 million in dividends, as reported by the RWA Report.
Franklin Templeton mentioned that integrating with BNB Chain will enable the platform to “reach more investors where they’re active,” while ensuring compliance and security remains a priority.
By reducing gas fees and executing over 200 transactions per second, BNB Chain aims to lower obstacles for both large allocators and smaller retail investors.
“By integrating with BNB Chain, Franklin Templeton positions itself in areas of increasing client demand. This move also equips us to adapt as the market evolves and as interest grows in new product types beyond our current tokenized money funds,” stated Mike Reed, Senior Vice President and Head of Digital Asset Partnership Development at Franklin Templeton, in an interview with BeInCrypto.
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Why BNB Chain?
BNB Chain is emerging as a hub for tokenized assets, with analysts noting a $51 billion trading volume in perpetual contracts on the network, indicating enhanced liquidity.
The introduction of Benji comes after prior integrations like Circle’s USYC token and Franklin Templeton’s recent collaboration with Binance on digital asset initiatives.
Other chains are also vying for a share of the market. SolanaFloor reported that tokenized assets on Solana surged to $671 million following new contributions to BlackRock’s BUIDL fund.
Ripple and Securitize have recently launched a 24/7 off-ramp for tokenized Treasuries, offering continuous settlement options.
Despite the momentum, risks persist. Analysts at JPMorgan caution that fragmented regulations and uncertain enforcement could hinder further adoption.
The RWA Report indicates that tokenized assets have skyrocketed by 224% since early 2024, yet much of the liquidity remains concentrated in Treasuries and short-term credit.
“The current macroeconomic landscape is driving the need for innovative ways to hold and transfer value. Tokenized assets are particularly suited for this environment, as they offer transparency, liquidity, and efficiency. We are focusing on scaling existing tokenized offerings and broadening access globally so investors can take advantage of these changes,” stated Mike Reed.
Franklin Templeton’s expansion to BNB Chain signifies a transition from experimentation to large-scale implementations. The widespread adoption of these products will hinge on regulatory clarity, dependable infrastructure, and investor interest beyond traditional safe-haven assets.
