Franklin OnChain U.S. Government Money Fund

Franklin Templeton's BENJI fund recorded massive net inflows of $525.1 million over a 30-day window, highlighting accelerating institutional adoption and liquidity migration into on-chain government money funds.

A half-billion dollar inflow in a 30-day period demonstrates a structural tipping point where tokenized MMFs are capturing meaningful treasury allocations from corporate treasurers and crypto-native funds alike. This velocity highlights how native on-chain yield wrappers are becoming the preferred vehicle for managing idle digital asset liquidity.

Franklin Templeton's OnChain U.S. Government Money Fund (BENJI) has surpassed a $1.5 billion market capitalization milestone, cementing its status as a dominant tokenized money market fund.

Crossing the $1.5B AUM threshold validates institutional appetite for public blockchain-native fund share classes and reinforces market concentration among Tier-1 traditional asset managers. This milestone shifts competitive pressure onto rival issuers to match native distribution capabilities and integration depth.

Franklin Templeton's OnChain U.S. Government Money Fund (BENJI) on the Stellar network has scaled past $1.1 billion in assets, surpassing its deployment volume on Ethereum and highlighting network preference shifts for tokenized money market funds.

This milestone proves that low transaction fees and specialized issuance primitives on high-throughput alternative L1s like Stellar can successfully challenge Ethereum's incumbent liquidity network for institutional-grade tokenized money market funds. For allocators, it demonstrates that network choice is increasingly driven by operational efficiency and gas cost predictability rather than pure network effects alone.

Payward (Kraken parent) and Franklin Templeton establish a strategic partnership to expand the distribution and integration of tokenized real-world assets, notably leveraging Franklin's OnChain U.S. Government Money Fund (BENJI).

Integrating Franklin Templeton's BENJI fund with Kraken's parent ecosystem broadens secondary market access and institutional distribution channels for tokenized treasuries. This bridges centralized exchange liquidity with on-chain yield-bearing instruments, lowering operational friction for institutional allocators seeking liquid cash equivalents.

Franklin Templeton has partnered with Binance to integrate its OnChain U.S. Government Money Fund (BENJI) as collateral for exchange trading, bridging tokenized government yields directly into digital asset derivative markets.

Integrating tokenized money market funds as margin collateral on major exchanges creates a direct liquidity feedback loop, driving utility beyond passive holding and setting a precedent for yield-bearing assets in derivatives trading.