As part of a big institutional crypto adoption drive, global asset manager Franklin Templeton is expanding its Franklin Templeton tokenization effort. The $1.6 trillion-wallet company is bringing its Benji tokenization platform to the BNB Chain, leveraging its compliant and low-cost ecosystem.
Why This Franklin Templeton Tokenization Expansion Matters
This action is an emphatic vote of confidence in the BNB Chain ecosystem. The strategy at Franklin Templeton is simple: to meet the investor where they are. By leveraging the BNB Chain, the firm can share its tokenized product with more individuals more effectively and efficiently.
The flagship product involved herein is the OnChain U.S. Government Money Fund. The fund, which launched on Stellar in 2021, has already amassed $732 million in assets. It is now available on eight blockchains, including Ethereum, Solana, and now BNB Chain.
A Collaborative Future for Digital Assets
Franklin Templeton and Binance said in a statement that they are working together on “separate digital asset products for a diverse range of investors.” More details on these collaborative products will be out by the end of the year.
The partnership is the newest example of behemoths of traditional finance (TradFi) leveraging blockchain-based technology to reimagine financial services and bring them to a broader base.
BNB Chain’s Growing Momentum
Its network is experiencing a remarkable surge. It hosts $12.5 billion in stablecoins and has 2.27 million active addresses daily. Moreover, its native token, BNB, recently hit an all-new new high of $1,079.
The network is also being mainstreamed by the success of projects like the Aster decentralized exchange (DEX), which has been praised by Binance co-founder Changpeng Zhao. The construction of Franklin Templeton tokenization on top of the chain further solidifies its place as a de facto destination for real-world asset (RWA) innovation.