Franklin Templeton Says On-Chain Records Add Utility to Funds
RWA Signal Insight
U.S. TreasuriesFranklin Templeton’s OnChain U.S. Government Money Fund, known as FOBXX and represented by the BENJI token, continues to demonstrate the utility of native blockchain-based fund management. Launched on the Stellar network in 2021, the fund distinguishes itself by using a public blockchain as the official record for transactions, share ownership, and investor distributions rather than relying on digital-twin structures. This native approach enables intraday yield accrual, daily dividend distributions, and 24/7 market access for investors. As of April 29, 2026, the BENJI suite reached $1.98 billion in assets under management, reflecting significant growth in adoption. Peer-to-peer transfer volume surpassed $211 million by March 31, 2026, while the investor base grew by over 140% between April 2024 and March 2026. The integration of these tokens into broader financial ecosystems is evidenced by a partnership with Binance, allowing BENJI shares to serve as off-exchange collateral. This development highlights the shift toward using tokenized money-market funds as functional settlement assets within regulated financial frameworks.
Key points
- FOBXX manages $1.98 billion in assets under management as of April 29, 2026.
- Cumulative peer-to-peer transfer volume for BENJI tokens exceeded $211 million by March 2026.
- Investor count increased by over 140% between April 2024 and March 2026.
- Binance partnership allows BENJI shares to function as off-exchange collateral for eligible clients.
Background
Franklin Templeton is a global investment firm managing over $1.6 trillion in assets. The FOBXX fund is a regulated U.S. mutual fund that invests primarily in U.S. government securities, cash, and repurchase agreements, providing a stable yield-bearing asset for investors within the digital asset ecosystem.