Franklin Templeton just took another leap in real-world asset (RWA) tokenization. The firm confirmed that its BENJI token, which represents shares in the $420 million Franklin OnChain U.S. Government Money Fund (FOBXX), is now supported by Anchorage Digital Bank.
Anchorage Digital confirmed the development on X, highlighting its support for Franklin Templeton’s fund. Notably, this money market fund is the first and only U.S.-registered mutual fund to leverage blockchain as its system of record.
As of writing, the Basenji BENJI token was trading at $0.016776 with a 24-hour trading volume of $5,941,676. The token is down 0.89% in the last 24 hours, according to CoinMarketCap.
Besides Ethereum and Stellar, Franklin is also exploring Aptos as its next chain. Last year, the fund extended to Avalanche, underscoring its multi-chain vision.
BENJI Adoption Broadens Access to Tokenized Treasuries
Each BENJI token equals one share in the fund. Through the Benji Investments app, users can convert USDC to buy shares. Additionally, they can transfer them peer-to-peer over blockchain rails. With this, there is more flexibility over traditional money market products, giving BENJI a distinct advantage.
Additionally, Franklin Templeton is considering features like share collateralization and secondary market trading. These initiatives aim to provide blockchain ecosystems with institutional-grade liquidity.
Anchorage provides regulated custody, settlement, and staking services. By integrating BENJI, it enables secure fund access for institutions.
Blockchain capital markets get a bit more concrete because of this petty partnership. Franklin Templeton, with $420 million in assets under management, could well see its BENJI token turn the money market funds upside down in a digitally enabled economy.
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