BENJI-LUMoney Market Fund
Franklin OnChain U.S. Dollar Short-Term Money Market Fund
- AUM
- $51.7M
- 30D change
- -8.7%
- Yield · 7-day net
- 3.96%
- NAV
- 1.0000
- Management fees
- 0.25%
- Minimum
- $50K
- Redemption
- Daily
- Launched
- 19 Nov 2024
Field coverage 96%Primary-source or on-chain verified 67% of tracked metrics1/1 source documents analyst-verifiedLast reconciled 13 Nov 2026
Overview
What this product is
The Luxembourg wrapper of the sponsor's on-chain money fund, built so European and Asian professional investors can access the same strategy without touching a US-registered vehicle.
- Underlying asset
- US government securities and repurchase agreements
- Asset class
- Money Market Fund
- Product structure
- Tokenized Fund
- Legal structure
- Luxembourg Part II Fund
- Issuer jurisdiction
European Union- Fund domicile
Luxembourg- Base currency
- USD
- Launched
- 19 Nov 2024
Peer set
Comparable products
Products in the same asset class and currency. Yields are quoted on different bases, so check each one before comparing.
Issuer
Who runs it
Franklin Templeton
San Mateo, United States
San Mateo, United StatesFirst manager to run a US-registered '40 Act money market fund with an on-chain transfer agency record. Operates its own tokenization stack (Benji) rather than outsourcing, and has replicated the structure into Luxembourg and Singapore wrappers.
Portfolio
Composition
- US government agency repurchase agreements47.1%
- US Treasury bills39.4%
- US agency discount notes10.2%
- Cash3.3%
On-chain history begins 13 Sept 2026 and covers 60 days of readings, with gaps on days the indexer could not read every chain.
AUM
$51.7M
Assets under management
-8.7% over 60 days held
Yield
3.96%
Yield history. 7-day net
+0.0% over 55 days held
NAV
1.0000
NAV per token (stable $1.00)
This fund maintains a constant NAV of USD 1.00 and distributes yield through token supply rather than price. NAV history is therefore flat by construction; monitor supply and yield instead.
-8.7% over 60 days held
Movement
Recent daily movement
Net movement -$4.9MOver 60 daysChange -8.7%
| Direction | ||||
|---|---|---|---|---|
| 13 Nov 2026 | $51.7M | $5.4K | +0.0% | |
| 12 Nov 2026 | $51.7M | $5.4K | +0.0% | |
| 11 Nov 2026 | $51.7M | $0 | 0.0% | |
| 10 Nov 2026 | $51.7M | $10.9K | +0.0% | |
| 09 Nov 2026 | $51.7M | $0 | 0.0% | |
| 08 Nov 2026 | $51.7M | $5.4K | +0.0% | |
| 07 Nov 2026 | $51.7M | $5.4K | +0.0% | |
| 06 Nov 2026 | $51.7M | $5.4K | +0.0% | |
| 05 Nov 2026 | $51.7M | $5.4K | +0.0% | |
| 04 Nov 2026 | $51.7M | $5.4K | +0.0% |
Holdings
Disclosure
Underlying portfolio
| Share | ||||
|---|---|---|---|---|
| US government agency repurchase agreements | Repurchase agreements | 1–7 days | 47.1% | |
| US Treasury bills | Treasury bills | 0–3 months | 39.4% | |
| US agency discount notes | Agency discount notes | 1–6 months | 10.2% | |
| Cash | Cash & equivalents | - | 3.3% |
Exposure
What you actually own
Economic exposure is to us government securities and repurchase agreements. Weighted average maturity is 22 days, which sets how quickly the portfolio reprices as rates move.
- Repurchase agreements
- 47.1%
- Treasury bills
- 39.4%
- Agency discount notes
- 10.2%
- Cash & equivalents
- 3.3%
Redemption
Terms
Contractual terms
- Redemption frequency
- Daily
- Dealing cut-off
- 15:00 CET, business days
- Settlement
- T+1 USD
- Redemption fee
- None
- Secondary venues
- None disclosed
- Transfer restrictions
- Transfers between verified accounts on the sponsor's platform only.
These are contractual terms from the offering documents. Observed settlement performance and any discretionary accommodation by the manager are explicitly out of scope.
Assessment
Liquidity profile
Primary redemption
Daily · T+1 USD
Off-hours exit
Constrained to 15:00 CET, business days
Secondary market
No secondary venue: primary redemption is the only exit
Transferability
Allow-listed wallets only
Exit fee
No redemption fee
Relationship graph
Operational dependency network
Every firm and system this product relies on. Select any of them to open its profile.
Every counterparty and system this product depends on to function. Each card links to that entity's own profile: the question worth asking of each is what happens to your position if it stops working.
Open in Ecosystem Graph →Issuance & legal
Who is legally on the hook for this product.Custody
Where the backing assets actually sit.Markets & settlement
Where it trades and how value moves between venues and chains.
Edges marked derived are inferred from a structured field on this product that carries its own source; they are not independent confirmation of it. Edges without that mark were sourced separately from a disclosure naming both parties.
Deployments
Registry
Networks and contracts
| Contract / asset id | |||
|---|---|---|---|
| StellarPrimary | public l1 | gBENJI-GD5J7…326OBXRP | 100.0% |
Counterparties
Service providers
If any of these has a problem, this product is affected.
- Custodian
- BNY· New York, United States
- Administrator
- Franklin Templeton· San Mateo, United States
- Transfer agent
- Franklin Templeton· San Mateo, United States
- Tokenization platform
- Franklin Templeton· San Mateo, United States
- Oracle / attestation
- Benji NAV publication
Access
Classification
Who may hold this
RetailNot eligible
AccreditedNot eligible
ProfessionalEligible
InstitutionalEligible
- Minimum investment
- $50,000
- Allow-list required
- Yes
- Transfer restrictions
- Transfers between verified accounts on the sponsor's platform only.
Geography
Where it is available
United StatesNot availableEuropean UnionAvailable
SingaporeAvailable
United KingdomNot available
SwitzerlandNot available
Hong Kong SARNot available
United Arab EmiratesNot availableExplicit prohibitions
- −United States
- −US persons
Availability is limited to the jurisdictions in the coverage boundary. Absence here means not covered, not necessarily prohibited. This is a classification of the offering documents, not legal advice.
Structure
Legal and regulatory
- Legal structure
- Luxembourg Part II Fund
- Product structure
- Tokenized Fund
- Fund domicile
- Luxembourg
- Issuer jurisdiction
- European Union
- Transfer agent
- Franklin Templeton
The domicile of the fund and the jurisdiction of its manager are frequently different. Both are recorded separately because they drive different questions: tax and insolvency follow the domicile, supervision follows the manager.
Source documents
Offering documentation
The documents behind the figures on this page. Anything marked verified has been checked by an analyst.
On-chain activity
Daily value outstanding
Value outstanding as read from the token contracts each day, and the movement between readings. Mints and redemptions are not separable on-chain, so this is the net of both, not gross issuance.
Net movement -$4.9MOver 60 daysChange -8.7%
| Direction | ||||
|---|---|---|---|---|
| 13 Nov 2026 | $51.7M | $5.4K | +0.0% | |
| 12 Nov 2026 | $51.7M | $5.4K | +0.0% | |
| 11 Nov 2026 | $51.7M | $0 | 0.0% | |
| 10 Nov 2026 | $51.7M | $10.9K | +0.0% | |
| 09 Nov 2026 | $51.7M | $0 | 0.0% | |
| 08 Nov 2026 | $51.7M | $5.4K | +0.0% | |
| 07 Nov 2026 | $51.7M | $5.4K | +0.0% | |
| 06 Nov 2026 | $51.7M | $5.4K | +0.0% | |
| 05 Nov 2026 | $51.7M | $5.4K | +0.0% | |
| 04 Nov 2026 | $51.7M | $5.4K | +0.0% | |
| 03 Nov 2026 | $51.7M | $5.4K | +0.0% | |
| 02 Nov 2026 | $51.7M | $5.4K | +0.0% | |
| 01 Nov 2026 | $51.7M | $5.4K | +0.0% | |
| 31 Oct 2026 | $51.7M | $5.4K | +0.0% | |
| 30 Oct 2026 | $51.7M | $5.4K | +0.0% | |
| 29 Oct 2026 | $51.6M | $5.4K | +0.0% | |
| 28 Oct 2026 | $51.6M | $5.4K | +0.0% | |
| 27 Oct 2026 | $51.6M | $5.4K | +0.0% | |
| 26 Oct 2026 | $51.6M | $5.3K | +0.0% | |
| 25 Oct 2026 | $51.6M | $5.3K | +0.0% | |
| 24 Oct 2026 | $51.6M | $5.3K | +0.0% | |
| 23 Oct 2026 | $51.6M | $5.3K | +0.0% | |
| 22 Oct 2026 | $51.6M | $20M | +63.3% | |
| 21 Oct 2026 | $31.6M | $3.3K | +0.0% | |
| 20 Oct 2026 | $31.6M | $3.3K | +0.0% | |
| 19 Oct 2026 | $31.6M | $3.3K | +0.0% | |
| 18 Oct 2026 | $31.6M | $3.3K | +0.0% | |
| 17 Oct 2026 | $31.6M | $3.3K | +0.0% | |
| 16 Oct 2026 | $31.6M | -$25.2M | -44.4% | |
| 15 Oct 2026 | $56.8M | $5.9K | +0.0% | |
| 14 Oct 2026 | $56.8M | $11.8K | +0.0% | |
| 13 Oct 2026 | $56.8M | $0 | 0.0% | |
| 12 Oct 2026 | $56.8M | $5.9K | +0.0% | |
| 11 Oct 2026 | $56.8M | $11.8K | +0.0% | |
| 10 Oct 2026 | $56.8M | $0 | 0.0% | |
| 09 Oct 2026 | $56.8M | $5.9K | +0.0% | |
| 08 Oct 2026 | $56.8M | $5.9K | +0.0% | |
| 07 Oct 2026 | $56.8M | $5.9K | +0.0% | |
| 06 Oct 2026 | $56.8M | $5.9K | +0.0% | |
| 05 Oct 2026 | $56.8M | $5.9K | +0.0% | |
| 04 Oct 2026 | $56.8M | $5.9K | +0.0% | |
| 03 Oct 2026 | $56.8M | $5.9K | +0.0% | |
| 02 Oct 2026 | $56.8M | $5.9K | +0.0% | |
| 01 Oct 2026 | $56.8M | $5.8K | +0.0% | |
| 30 Sept 2026 | $56.7M | $5.8K | +0.0% | |
| 29 Sept 2026 | $56.7M | $11.7K | +0.0% | |
| 28 Sept 2026 | $56.7M | $0 | 0.0% | |
| 27 Sept 2026 | $56.7M | $11.7K | +0.0% | |
| 26 Sept 2026 | $56.7M | $0 | 0.0% | |
| 25 Sept 2026 | $56.7M | $11.6K | +0.0% | |
| 24 Sept 2026 | $56.7M | $0 | 0.0% | |
| 23 Sept 2026 | $56.7M | $5.8K | +0.0% | |
| 22 Sept 2026 | $56.7M | $11.5K | +0.0% | |
| 21 Sept 2026 | $56.7M | $0 | 0.0% | |
| 20 Sept 2026 | $56.7M | $11.5K | +0.0% | |
| 18 Sept 2026 | $56.7M | $5.7K | +0.0% | |
| 17 Sept 2026 | $56.7M | $11.2K | +0.0% | |
| 15 Sept 2026 | $56.7M | $5.6K | +0.0% | |
| 14 Sept 2026 | $56.7M | $5.6K | +0.0% | |
| 13 Sept 2026 | $56.7M | - | - |
Related intelligence
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