Franklin Templeton Launches Tokenized Money Market Fund BENJI on the Avalanche Network

Franklin Templeton's Expansion into Avalanche Blockchain

Franklin Templeton, a leading global investment firm managing $1.6 trillion in assets under management, has significantly expanded its presence on Layer 1 blockchains by deploying its innovative on-chain money market fund to the Avalanche network. The Franklin OnChain U.S. Government Money Fund (FOBXX), originally launched in 2021, represents a groundbreaking achievement in institutional finance as the first and only U.S.-registered mutual fund to utilize a public blockchain as its system of record for transaction processing and share ownership documentation. This expansion demonstrates the growing institutional confidence in blockchain technology and its capacity to revolutionize traditional financial infrastructure.

The deployment to Avalanche reflects the broader institutional adoption of blockchain networks for managing tokenized assets. As the tokenized asset ecosystem has matured, Avalanche has increasingly attracted institutional participants seeking to leverage blockchain technology for enhanced operational efficiency and novel financial services capabilities.

BENJI Token and Fund Features

Under the Benji Investments platform, the BENJI token represents a revolutionary approach to digital fund ownership. Each share of the fund is represented by one BENJI token, enabling seamless digital ownership and transfer. Token holders can access the fund through the Benji Investments app, available on both Android and Apple mobile platforms. Franklin Templeton has enhanced the utility of the BENJI token beyond traditional financial market capabilities, allowing Benji wallet holders to convert USDC stablecoin directly into BENJI token shares and conduct peer-to-peer transfers of shares on the public blockchain. These features eliminate intermediaries and reduce settlement times compared to traditional market infrastructure.

Looking forward, Franklin Templeton plans to introduce additional utility features including secondary market trading and collateral mobility, further expanding the financial capabilities available to BENJI token participants. This progressive enhancement of functionality demonstrates a commitment to fully leveraging blockchain's technical advantages for institutional-grade financial services.

Growth of Tokenized Money Market Funds

The tokenized U.S. money market fund sector has experienced remarkable growth in recent periods, with significant expansion driven by multiple factors: blockchain-enabled funds offer a broader range of capabilities compared to traditional vehicles, and investors increasingly seek yield on their tokenized fiat holdings. The combination of blockchain technology, smart contracts, and tokenization provides financial institutions with powerful tools to upgrade their operational infrastructure and streamline institutional workflows.

Franklin Templeton's deployment of BENJI to Avalanche positions the firm at the forefront of this institutional transition toward on-chain finance, where digitally native financial products can serve investor demand with greater efficiency and transparency.

Why Institutions Choose Avalanche

Avalanche has emerged as a preferred platform for institutional deployment due to its distinctive technical characteristics and ecosystem maturity. The network features EVM compatibility, enabling seamless integration with existing Ethereum-based tools and smart contracts. Its sub-second transaction finality ensures rapid settlement, while low transaction fees reduce operational costs for institutional users. Additionally, Avalanche's customizability allows enterprises to tailor solutions to specific requirements, and its proven consistency provides the reliability essential for managing significant financial assets.

Both sell-side and buy-side institutions have increasingly explored Avalanche for their digital asset strategies, recognizing that the platform's enterprise-grade infrastructure specifically supports tokenization and on-chain finance initiatives. This institutional focus distinguishes Avalanche as a blockchain designed for serious financial applications rather than speculative activities.

Access and Implementation

Franklin Templeton has structured BENJI token access to serve both individual and institutional investors through specialized platforms. Individual investors can gain exposure to FOBXX through the mobile Benji Investments app, providing convenient access to the tokenized fund and BENJI token holdings. Institutional investors access the fund via the Benji Institutional web portal, which integrates with Franklin Templeton's proprietary blockchain-integrated recordkeeping system. Institutional participants may hold their BENJI token wallets on the Avalanche network upon request and subject to eligibility requirements, ensuring compliance with regulatory frameworks while enabling direct blockchain participation.

This dual-track implementation strategy allows Franklin Templeton to serve diverse investor segments while maintaining appropriate regulatory oversight and security protocols.

Conclusion

The launch of BENJI on the Avalanche network represents a significant milestone in the evolution of institutional finance on blockchain technology. Franklin Templeton's deployment of its pioneering tokenized money market fund and BENJI token demonstrates that public blockchains can serve as robust infrastructure for regulated financial products serving substantial institutional assets. By combining blockchain's operational advantages—including transparency, efficiency, and programmable finance—with the regulatory credibility of an established global asset manager, BENJI establishes a template for institutional digital asset adoption. As the tokenized finance ecosystem continues to mature, initiatives like BENJI validate blockchain's potential to fundamentally enhance financial services delivery while maintaining the security, compliance, and stability required by institutional participants.

FAQ

What is the Benji token?

Benji token is a blockchain-based digital asset representing shares in the Franklin OnChain U.S. Government Money Fund. It offers regulated investment exposure to government-backed securities on the blockchain.

What is Franklin Templeton Benji?

Franklin Templeton Benji is a proprietary blockchain-integrated platform launched in 2025, designed for trading and asset management. It features a patent-pending intraday yield feature that enables users to generate returns throughout the trading day.