Franklin Templeton has partnered with VeChain to integrate its BENJI tokenization platform onto VeChain’s layer-1 blockchain, enabling international investor access to tokenized U.S. Treasury bills through regulated crypto transactions. The integration leverages VeChain’s dual-token model and compliance infrastructure to ensure secure custody and transparent management of tokenized assets.
Bridging traditional finance with blockchain technology, the BENJI platform digitalizes shares of the Franklin OnChain U.S. Government Money Fund (FOBXX), a $780 million low-risk fund holding U.S. Treasury-backed assets. This expansion marks BENJI’s deployment across its eighth supported blockchain, joining existing networks including Stellar, which dominates the platform’s current market capitalization.
The move strategically positions Franklin Templeton against competitors like BlackRock’s BUIDL and Ondo’s OUSG in the tokenized money market sector. By combining U.S. Treasury stability, VeChain’s enterprise-grade blockchain, and partnerships with regulated custodians including BitGo and liquidity provider Keyrock, the collaboration establishes a robust framework for institutional-grade investment products.