Starting from a historic fund of 780 million dollars, Franklin Templeton pushes for innovation by bringing BENJI and tokenized money market funds on VeChain, opening new paths for liquidity management and corporate payments on public blockchain.
BENJI is the solution developed by Franklin Templeton to enable tokenized access to the Franklin OnChain U.S. Government Money Fund (FOBXX): each BENJI token represents a share of the fund, aiming to maintain a stable value around the dollar.
The new development consists of the integration of BENJI with VeChain, a public blockchain specialized in business solutions, thus expanding the range of payment options in stablecoin and liquid instruments available for enterprises already operating on the VeChain network.
The choice of VeChain stems from its technical peculiarities: dual-token architecture, predictable and low transaction costs, enterprise orientation. Consequently, companies can now access, through VeChain, one of the largest tokenized money market funds already live on blockchain.
In the official statement, Franklin Templeton explains: “This collaboration will strengthen the distribution strategy, offering businesses and institutional investors involved with VeChain a differentiated way to integrate tokenized money market funds into payment and liquidity management options.”
FOBXX is an authorized US fund (approximately $780 million under management) that invests in cash, T-bills (US government securities), and secured repos. The BENJI token ensures transparency, speed, and interoperability to move corporate liquidity between traditional currencies and native assets on the blockchain.
A BENJI token remains anchored to the value of the dollar, reproducing the characteristics of a “stable token” supported by real assets: a practical solution for companies looking for digital-native but regulated tools.
The custody provider Bitgo enters to support operations on VeChain, ensuring security for the deposit of digital assets connected to the fund. Keyrock, on the other hand, will bring its technologies for derivatives trading, expanding the range of liquidity and market services for VeChain participants.
This makes VeChain an increasingly versatile platform for institutional finance, thanks to strategic partnerships with global players.
According to RWA.xyz data, the BENJI platform is already active on at least seven blockchains: Stellar, Ethereum, Arbitrum, Base, Avalanche, Polygon, and Aptos. The bulk of the capitalization is hosted by Stellar ($432 million).
VeChain, until today, had a TVL (total value locked) of just $1.7 million and a weekly trading volume on DEX of $36,221. With the arrival of BENJI, the potential for growth and institutional adoption could mark a turning point, especially for those looking for solid but less congested blockchains.
Comparing the main tokenized funds:
Among these, FOBXX leads in terms of the number of wallets/participants, confirming itself as one of the most distributed and accessible tools for institutional investors and companies.
In practice, the arrival of BENJI on VeChain means that companies active on the chain can access regulated, tokenized funds compatible with digital-first payment systems, leveraging all the advanced features of VeChain.
The collaboration with Bitgo for custody and Keyrock for liquidity paves the way for an ecosystem increasingly rich in institutional products, positioning VeChain as a key hub for real-world asset tokenization and for the digitalization of enterprise finance.
Businesses can now use BENJI as a treasury, payment, and liquidity management tool, reducing time and operational costs compared to legacy methods. For operators on the VeChain blockchain, new opportunities arise to adopt digital tools in full compliance, with the security of market-leading partners.
The actual success of BENJI on VeChain will depend on the reception by businesses and institutions, the volume of assets moved, and VeChain’s ability to grow in terms of liquidity and use cases. The comparison will be direct with larger platforms (Stellar, Ethereum) but the collaboration with Franklin Templeton is a strong signal: the tokenization of mainstream liquidity also passes through here.
The coming weeks will be decisive: monitoring the activity on VeChain, the number of BENJI holders, and the adoption on institutional wallets will be the key to understanding if this revolution will really take off. Digital finance is now also played on the field of regulated innovation: everything can change in a few months, especially if companies choose VeChain as the base for tokenized treasury.
