- BNB Chain now hosts 61.71% of Franklin Templeton’s $1.5B BENJI fund after rapid monthly growth.
- Stellar’s share of the BENJI fund fell as Franklin Templeton expanded the tokenized product across blockchains.
- Franklin Templeton’s latest expansion highlights growing institutional adoption of tokenized investment products.
Franklin Templeton has expanded its $1.5 billion BENJI tokenized money market fund to BNB Chain, extending one of the world’s largest tokenized investment products to another public blockchain. Crypto analyst ALLINCRYPTO said Stellar laid the foundation for the fund before Franklin Templeton expanded BENJI into a multi-chain product.
In a post on X, BNB Chain cited data from RWA.xyz showing that about $1.5 billion of BENJI assets are now on its network, representing 61.71% of the fund’s total value. Holdings on the blockchain have jumped 1,226% over the past month, making it the fund’s largest network.
BNB Chain Takes the Lead
BNB Chain’s rapid growth has reshaped the BENJI fund’s blockchain distribution. Stellar, which previously held the largest share of the fund, now ranks second with $583 million in tokenized assets, representing 23.76% of the total, according to RWA.xyz. The network’s holdings fell 11.81% over the past month as more assets shifted to BNB Chain.
Coming third is Ethereum with its allocation amounting to $159.1 million, which amounts to 6.48% of the value of BENJI assets. This is followed by Base, Arbitrum, and Avalanche, which have significantly lower allocations. Together, these three form less than 6% of BENJI’s total asset values.
Tokenized Assets Gain Institutional Momentum
Franklin Templeton has been expanding its use of blockchain technology since 2021, when it launched the first U.S.-registered mutual fund to use blockchain for processing transactions and recording ownership. The firm has since extended the BENJI platform across several blockchains, supporting tokenized money market funds, mutual funds, and other investment products.
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The move to BNB Chain adds another network to that 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’re active,” Roger Bayston, Franklin Templeton’s head of digital assets, said.
Traditional Finance Moves Onchain
Franklin Templeton’s expansion comes as tokenization continues to gain ground in traditional finance. Earlier this week, DTCC completed its first live production trades involving tokenized securities, another sign that major financial institutions are moving blockchain technology beyond pilot projects.
As more firms adopt tokenized versions of traditional assets, blockchain networks are increasingly competing to host regulated financial products. ranklin Templeton’s expansion reflects the broader push by asset managers to bring traditional financial products onto public blockchain networks.
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