Franklin Templeton pitches BENJI as an onchain rate in Pendle discussion

The asset manager's tokenized Treasury money fund is being framed as both a yield benchmark and collateral for onchain markets Franklin Templeton wants its tokenized money market fund to be more than a parking spot for cash. In a discussion shared with Pendle on X, the firm described BENJI as a way for its Treasury money fund to serve as an onchain rate and collateral . Think of BENJI as a receipt that lives on a blockchain. Each token is equivalent to one share in Franklin Templeton’s money market funds, and the fund aims to hold a stable net asset value of $1.00. The flagship product behind it is the Franklin OnChain US Government Money Fund, which trades under the ticker FOBXX.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to Crypto Briefing.