Franklin Templeton Expands Benji Tokenization Platform to Ethereum  

• Franklin Templeton’s Benji platform is now live on Ethereum, enhancing blockchain access.  
• Tokenized treasuries reach $2.37 billion, with Franklin Templeton’s fund ranking third largest.  
• This marks Benji’s fifth blockchain launch this year, expanding beyond Aptos and Avalanche.  

Franklin Templeton has expanded its Benji tokenization platform to the Ethereum network, enhancing its accessibility and functionality. This move marks the platform’s fifth blockchain integration in 2024, following successful launches on Aptos, Avalanche, Arbitrum, and Coinbase’s Base. 

Previously, Benji was only available on Stellar and Polygon. With the Ethereum integration, the company aims to leverage Ethereum’s Virtual Machine and smart contract capabilities, offering users enhanced flexibility in managing their tokenized assets.

The growing demand for tokenized assets is evident, with the market capitalization of tokenized treasuries surpassing $2.37 billion.

Franklin Templeton’s on-chain money market fund, FOBXX, is currently the third-largest tokenized treasury fund, trailing behind BlackRock’s BUIDL and Ondo’s USDY. 

FOBXX was initially launched on the Base network, providing users with new avenues to access traditional assets through blockchain technology.

This initiative is in line with Franklin Templeton’s strategy to modernize asset management using digital ledger technology, thereby creating more efficient financial products for its clientele.

The decision to expand the Benji platform to Ethereum is aligned with Franklin Templeton’s vision of integrating blockchain technology into traditional finance.

By utilizing Ethereum’s robust infrastructure, the company aims to increase the efficiency and scalability of its tokenized funds.

The launch on Ethereum is expected to attract more participants, given the network’s widespread adoption and established ecosystem.

This milestone signifies Franklin Templeton’s proactive steps in exploring blockchain-based solutions to offer innovative financial products.

Besides expanding its reach, the Ethereum launch also emphasizes the company’s objective to bridge the gap between traditional finance and emerging digital asset markets.