Franklin Templeton has advanced its digital asset strategy with the launch of its proprietary digital investment platform, Benji, on Base, an Ethereum layer 2 developed by Coinbase.
This marks the first time an asset manager has launched a tokenized fund on Base, further establishing Franklin Templeton’s commitment to innovation within the blockchain landscape.
Through Benji, retail and institutional investors alike can now access tokenized securities, including the Franklin OnChain U.S. Government Money Fund (FOBXX), known for being the first SEC-registered mutual fund to operate using blockchain-based recordkeeping.
Since its inception in 2021, FOBXX has positioned Franklin Templeton at the forefront of blockchain adoption in finance. By using blockchain for transaction processing and recordkeeping, FOBXX has achieved regulatory recognition and set a precedent for integrating traditional finance with blockchain technology.
Through the Benji platform, investors can now acquire shares of FOBXX represented by BENJI tokens, which enable secure transactions directly on blockchain networks such as Avalanche and, most recently, Base.
Base offers unique advantages as a layer-2 blockchain on Ethereum, designed to reduce transaction costs and increase efficiency. Franklin Templeton’s move to expand Benji to Base adds to its presence on Avalanche, another blockchain platform known for its low transaction fees and robust security measures.
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This cross-chain strategy demonstrates the asset manager’s commitment to building a flexible investment infrastructure that harnesses the best features of multiple blockchain ecosystems.
Another key feature of Benji is its incorporation of USDC (USD Coin) on and off-ramps, which makes it easier for users to fund their investments in a stable, cryptocurrency-backed environment.
This stablecoin integration means investors can access tokenized assets without the volatility typically associated with cryptocurrencies. Moreover, the platform’s compatibility with mobile and institutional applications makes Benji highly accessible, bridging the gap between traditional and digital finance.
