Swiss Crypto Firm SCRYPT Puts Treasury on Franklin Templeton's Tokenized Money Market Fund
RWA Signal Insight
U.S. TreasuriesSwiss digital asset infrastructure firm SCRYPT has integrated Franklin Templeton’s BENJI token, representing shares in the Franklin OnChain US Government Money Fund (FOBXX), into its internal treasury operations. This move addresses the structural inefficiencies of traditional money market funds, which typically operate on a T+1 settlement cycle and remain inactive during weekends. By utilizing BENJI, SCRYPT achieves instant on-chain settlement and real-time yield accrual, aligning its treasury management with the 24/7 nature of crypto markets. This integration is particularly significant as SCRYPT processed over $9 billion in trading volume last year, primarily in stablecoins. As one of the first Swiss-licensed firms to adopt this tokenized solution, SCRYPT demonstrates the practical utility of blockchain-based cash management at an institutional scale. The development highlights a broader trend where crypto-native firms are increasingly replacing idle cash with yield-bearing, tokenized alternatives. This shift underscores the growing maturity of the RWA sector as global asset managers like Franklin Templeton expand the distribution of their on-chain products.
Key points
- SCRYPT integrated Franklin Templeton’s BENJI token for 24/7 treasury management.
- Integration eliminates T+1 settlement delays and weekend downtime for SCRYPT’s treasury.
- Franklin Templeton manages approximately $1.78 trillion in total assets as of May 31.
- FOBXX was the first US-registered mutual fund to utilize public blockchains.
Background
Franklin Templeton's Franklin OnChain US Government Money Fund (FOBXX) is a regulated mutual fund that utilizes blockchain technology to record share ownership and process transactions. It provides investors with exposure to US government securities while offering the benefits of on-chain accessibility and transparency. The fund is designed to bridge the gap between traditional financial instruments and digital asset ecosystems.