BNB Chain Becomes Largest Network for Franklin Templeton’s $1.5 Billion BENJI Fund

Franklin Templeton invests in $1.5 billion BENJI tokenized money market fund, $BNB Chain, extending one of the world’s largest tokenized investment products to another public blockchain. Cryptocurrency analyst ALLINCRYPTO said Stellar laid the foundation for the fund before Franklin Templeton expanded BENJI into multi-chain products.

In X’s post, $BNB Chain cited data from RWA.xyz showing that approximately $1.5 billion of BENJI assets are currently on the network, representing 61.71% of the total fund amount. Its holdings on the blockchain have increased by 1,226% in the past month, making it the fund’s largest network.

$BNB Chain takes control

$BNB Chain’s rapid growth has reshaped the blockchain distribution of BENJI funds. Stellar, which previously held the largest share of the fund, now ranks second with $583 million in tokenized assets, accounting for 23.76% of the total, according to RWA.xyz. The network’s holdings decreased by 11.81% over the past month as more assets moved into the network. $BNB chain.

In third place is Ethereum, with an allocation of $159.1 million, which is equivalent to 6.48% of BENJI asset value. This is followed by Base, Arbitrum, and Avalanche, which allocate significantly less. Together, these three account for less than 6% of BENJI’s total asset value.

Tokenized assets gain organic momentum

Franklin Templeton has expanded its use of blockchain technology since 2021, when it launched the first U.S. registered mutual fund to use blockchain to process transactions and record ownership. Since then, the company has expanded its BENJI platform to multiple blockchains to support tokenized money market funds, mutual funds, and other investment products.

transition to $BNB Chain adds another network to its strategy, expanding investor access through another blockchain network that offers lower transaction costs and faster transaction processing. “Our goal is to meet more investors where they are active,” said Roger Bayston, head of digital assets at Franklin Templeton.

Traditional finance moves on-chain

Franklin Templeton’s expansion comes as tokenization continues to gain ground in traditional finance. Earlier this week, DTCC completed its first live production transaction involving tokenized securities, another sign that major financial institutions are moving blockchain technology beyond pilot projects.

Blockchain networks are increasingly competing to host regulated financial products as more companies adopt tokenized versions of traditional assets. Ranklin Templeton’s expansion reflects a broader push by asset managers to bring traditional financial products to public blockchain networks.