Franklin Templeton, a global financial institution managing $1.79 trillion, has advanced its use of distributed ledger technology (DLT) by expanding the footprint of its tokenized money market fund, BENJI. The fund, initially launched on Stellar’s XLM Network in 2021, has continued to grow and now maintains a strong presence on both Stellar and XRP’s chain.
BENJI fund’s new capabilities across multiple chains
Sandy Kaul, Franklin Templeton’s Head of Innovation, recently discussed the technological edge provided by DLT for their tokenized money market fund. By leveraging blockchain infrastructure, the fund can now calculate and distribute interest precisely based on actual holding times. Kaul explained this precision by saying,
If you hold it for three hours and six seconds, you get three hours and six seconds worth of interest, which enhances liquidity management beyond traditional daily accruals.
This technology allows investors to benefit from a level of accuracy unavailable in conventional fund operations. As Franklin Templeton expands BENJI to new blockchains, it aims to offer investors greater flexibility and control over their assets. The expansion to the XRP chain includes the Singapore-based iteration of the fund (sgBENJI), which recently received an influx of approximately $150 million in new shares.
Stellar’s RWA sector hits $4 billion despite token volatility
Developments in Franklin Templeton’s BENJI fund have been mirrored by broader institutional interest in Stellar’s blockchain for real-world asset (RWA) tokenization. Besides Franklin Templeton’s implementation, firms such as Spiko, Realiz, Red Swan, and WisdomTree have issued tokenized stocks or government bonds on Stellar, driving the total RWA market capitalization on the network to about $4 billion.
Despite record usage of Stellar’s blockchain for RWAs, the price performance of Stellar Lumen’s native token has experienced downward pressure from wider market conditions. Nonetheless, Stellar Network remains a top choice for institutions, with Franklin Templeton managing over $650 million in assets on the platform.
Franklin Templeton’s diversification strategy exemplifies a growing trend among major asset managers seeking operational efficiencies and innovative liquidity tools through tokenization and blockchain-based services.
Stellar’s RWA sector now approaches $4 billion in market cap, propelled by the adoption of tokenized financial assets by both Franklin Templeton and other prominent entities, even as XLM faces difficulties from broader market trends.
As the volume of real-world asset transactions on Stellar continues to break records, market participants are closely monitoring institutional movement on both Stellar and XRP.
For those seeking to track every major development in real-world asset tokenization across Stellar and XRP networks, CryptoAppsy’s real-time charts and customizable portfolio monitoring empower users to analyze institutional flows and network metrics efficiently as the sector evolves.
