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Franklin Templeton, the $1.5 trillion asset management firm, is expanding its BENJI tokenized platform to the VeChain blockchain. This strategic move brings regulated stablecoin solutions to enterprises operating on VeChain's ecosystem while expanding Franklin Templeton's blockchain footprint beyond its current seven supported networks.
The BENJI platform provides tokenized access to Franklin Templeton's OnChain U.S. Government Money Fund (FOBXX), representing shares in a $780 million portfolio of government securities and repurchase agreements. Each BENJI token maintains a 1:1 peg with the fund's share value, offering enterprises a stable digital asset for transactions and treasury management.
——This integration marks a significant step in bridging traditional finance with blockchain infrastructure—— said a company spokesperson in exclusive comments to Cointelegraph.
The collaboration includes custody solutions from BitGo and derivatives trading capabilities through Keyrock. These partnerships aim to create a comprehensive financial ecosystem on VeChain, leveraging its dual-token architecture which reportedly offers 【predictable transaction costs】 crucial for financial operations.
While BENJI currently leads in holder count with 690 investors, it trails BlackRock's BUIDL ($2.4B market cap) and competes with Ondo's government bond fund ($709M). The platform's strongest presence remains on Stellar, holding 【$432 million】 of its total market capitalization.
Despite currently modest DeFi metrics ($1.7M TVL), VeChain's focus on enterprise adoption makes it an attractive partner for institutional-grade solutions. The blockchain's emphasis on real-world asset tokenization aligns with growing demand for compliant crypto payment options among corporations.
Industry observers note this partnership could accelerate VeChain's adoption in supply chain finance and cross-border trade settlements, particularly in Asian markets where the blockchain has established government and corporate relationships.
Franklin Templeton's multi-chain strategy demonstrates increasing institutional interest in blockchain interoperability. The firm continues evaluating additional networks for BENJI deployment while refining compliance frameworks to meet global regulatory standards for tokenized securities.