Franklin Templeton simplifies P2P transfers for US Money Fund 🚀

Franklin Templeton Enables Peer-to-Peer Transfers of Tokenized Shares

Asset management firm Franklin Templeton has taken a significant step by allowing peer-to-peer transfers of tokenized shares within its on-chain U.S. Government Money Fund.

Tokenized Shares Represented by BENJI Token

Each share is denoted by the BENJI token on both the Polygon and Stellar blockchains.
Franklin Templeton stands at the forefront of tokenized U.S. Treasuries, holding a 32% market share equating to $384 million in assets according to data from 21.co.

BENJI Token Holders Can Now Transfer Shares

Head of Digital Assets at Franklin Templeton, Roger Bayston, expressed excitement regarding the new development.
He mentioned that BENJI token holders now have the ability to seamlessly transfer shares amongst themselves.

Blockchain Integration for Asset Management

Franklin Templeton has pioneered the use of a public blockchain to process transactions and record share ownership.
In 2021, the firm became the first U.S.-registered fund to adopt such technology.

Competition from BlackRock’s BUIDL Fund

The U.S. Government Money Fund by Franklin Templeton faces tough competition from BlackRock’s BUIDL fund, which has recently been tokenized in partnership with Securitize on the Ethereum blockchain.

Rapid Growth of BlackRock’s BUIDL Fund

Since its launch, BUIDL has quickly captured 25% of the market, amassing $304 million in assets within just a month.
This has put pressure on Franklin Templeton’s fund, challenging its market dominance.

Investment Strategy and Access

Franklin Templeton’s U.S. Government Money Fund focuses on providing competitive returns through investments in government securities and related instruments.
The fund aims to maintain a stable $1 share price, attracting investors looking for stability and growth potential.

Availability of Fund Via Benji Investments App

Investors can conveniently access Franklin Templeton’s fund through the Benji Investments app, available on both Android and iOS platforms.

U.S. Spot Bitcoin ETF Operations

Besides its tokenized assets, Franklin Templeton also manages the EZBC U.S. spot bitcoin ETF, which has garnered nearly $334 million in assets under management.
Through its diverse offerings, Franklin Templeton solidifies its position in both traditional and digital asset markets.

Hot Take: Franklin Templeton Navigates Competitive Tokenized Asset Landscape

As Franklin Templeton continues to innovate in the tokenized asset space, it faces stiff competition from newcomers like BlackRock’s BUIDL fund. Both firms are vying for market share and investor interest, highlighting the evolving landscape of tokenized securities and digital assets.