Franklin Templeton expanded its BENJI tokenized money market fund, valued at approximately $1.5 billion, to BNB Chain, marking another step in the asset manager's broader blockchain strategy. The move extends one of the world's largest tokenized investment products to an additional public blockchain, broadening access for investors. According to data from RWA.xyz shared by BNB Chain, around $1.5 billion worth of BENJI assets are now represented on BNB Chain, accounting for 61.71% of the fund's total value, with holdings surging 1,226% over the past month. The expansion reflects the growing role of blockchain technology in traditional finance as asset managers increasingly integrate conventional investment vehicles with public blockchain networks.
BNB Chain Overtakes Stellar as Largest BENJI Host
The rapid increase in assets on BNB Chain significantly altered the distribution of BENJI across supported blockchains. BNB Chain now hosts approximately $1.5 billion in BENJI assets, representing 61.71% of the fund's total value. Stellar, which previously served as the foundation for the BENJI fund before Franklin Templeton transformed the product into a multi-chain offering, now ranks second with approximately $583 million in assets, accounting for 23.76% of the fund's overall value. Data from RWA.xyz indicated that Stellar's holdings declined by 11.81% during the past month as assets migrated to BNB Chain.
Ethereum remains the third-largest blockchain supporting the BENJI fund, hosting approximately $159.1 million in tokenized assets, equivalent to 6.48% of the total portfolio. Base, Arbitrum, and Avalanche follow with considerably smaller allocations, with these three networks combined accounting for less than 6% of the fund's overall value.
Franklin Templeton's Multi-Chain Blockchain Strategy
Franklin Templeton introduced the first U.S.-registered mutual fund to utilize blockchain technology for transaction processing and ownership recordkeeping in 2021. Since then, the company expanded the BENJI platform across multiple blockchain networks while supporting tokenized money market funds, mutual funds, and additional investment products. The addition of BNB Chain represents another major milestone in Franklin Templeton's multi-chain strategy, enabling broader investor access through a blockchain network known for lower transaction costs and faster transaction processing.
Roger Bayston, Franklin Templeton's head of digital assets, explained that the company's objective was to make its investment products available wherever investors are actively participating, highlighting its focus on expanding accessibility across blockchain ecosystems.
Tokenization Gains Traction Across Financial Industry
Franklin Templeton's latest expansion comes as tokenization continues to gain traction across the financial industry. Earlier in the week, the Depository Trust & Clearing Corporation (DTCC) completed its first live production trades involving tokenized securities, signaling that blockchain applications are increasingly moving beyond experimental pilots and into operational financial infrastructure. The expansion highlights the accelerating adoption of tokenized financial products as major asset managers increasingly integrate traditional investment vehicles with public blockchain networks.
Competition among blockchain platforms intensified as financial institutions seek networks capable of supporting regulated investment products. Public blockchains are increasingly positioning themselves as infrastructure providers for tokenized assets, with scalability, transaction costs, and processing speed becoming key differentiators. Franklin Templeton's decision to extend the BENJI fund to BNB Chain underscores the broader industry trend of bringing conventional financial products onto public blockchains while expanding accessibility for institutional and retail investors alike.
FAQ
What did Franklin Templeton do with its BENJI fund?
Franklin Templeton expanded its BENJI tokenized money market fund, valued at approximately $1.5 billion, to BNB Chain. According to data from RWA.xyz shared by BNB Chain, around $1.5 billion worth of BENJI assets are now represented on BNB Chain, accounting for 61.71% of the fund's total value, with holdings surging 1,226% over the past month.
How is BENJI distributed across blockchains?
BNB Chain hosts 61.71% of BENJI assets ($1.5 billion), Stellar holds 23.76% ($583 million), and Ethereum accounts for 6.48% ($159.1 million). Base, Arbitrum, and Avalanche combined represent less than 6% of the fund's overall value. Stellar's holdings declined by 11.81% during the past month as assets migrated to BNB Chain.
What is Franklin Templeton's blockchain strategy?
Franklin Templeton introduced the first U.S.-registered mutual fund to utilize blockchain technology for transaction processing and ownership recordkeeping in 2021. Since then, the company expanded the BENJI platform across multiple blockchain networks. Roger Bayston, Franklin Templeton's head of digital assets, stated that the company's objective was to make its investment products available wherever investors are actively participating.
