News, data and analysis on tokenized assets, market design and digital economic systems.
Manager of $1.68tn as of 31 March 2026, and the first large manager to put a US-registered mutual fund's share register on a public blockchain; its Benji suite held about $1.98bn as of 29 April 2026.
Franklin Resources, founded in New York in 1947 as Franklin Distributors and based in San Mateo since 1973, managed $1.68tn as of 31 March 2026 and was the first large manager to put a US-registered mutual fund's share register on a public blockchain. FOBXX, the Franklin OnChain U.S. Government Money Fund, launched on Stellar in 2021 and held $650m in April 2026, with about $1.98bn across the Benji suite as of 29 April 2026 and cumulative peer-to-peer transfer volume above $211m by 31 March 2026. Because Benji accrues yield by the second and lets holders move shares directly to one another, it is one of the few regulated money-fund share classes that settles outside a transfer agent's batch cycle, the property that makes it usable as collateral rather than merely as a cash holding.
Developments in which Franklin Templeton is a named party, newest first.
Franklin Templeton's Benji tokenization platform held $2.44bn in assets as of 18 July 2026, of which $1.5bn, or 61.7%, sat on BNB Chain, overtaking Stellar. BNB Chain balances rose 1,226% over the preceding month.
The summary prospectus for the Franklin OnChain U.S. Government Money Fund, dated 6 April 2021, stated that ownership of the fund's shares "will also be recorded on the Stellar network's blockchain", with the transfer agent's book-entry record remaining determinative in any conflict. It made a registered US money market fund, rather than a token referencing one, the vehicle through which investors held a blockchain record of fund shares.
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