Issuer Intelligence Profile · RWA-003
Franklin Templeton BENJI
A highly credible and regulation-first tokenized treasury structure, offering strong legal clarity and institutional alignment. Compared to crypto-native issuers, the tradeoff is lower on-chain transparency, but from a traditional asset management perspective, this is one of the most structurally robust products in the market.
Franklin OnChain U.S. Government Money Fund (BENJI/FOBXX) represents traditional asset manager Franklin Templeton's pioneering tokenization of a SEC-registered 40-Act money market fund. The fund invests exclusively in U.S. Government securities and repurchase agreements, maintaining $1.00 NAV stability through 2a-7 compliance. Multi-chain deployment spans Stellar (primary), Polygon, and Ethereum networks, with institutional-grade custody through BNY Mellon and State Street. Fund shares trade as blockchain tokens while maintaining full SEC regulatory oversight, combining TradFi compliance with DeFi accessibility. AUM peaked above $400M in 2023 before stabilizing around $300M+ as of 2024.
Issuer Identification
Issuer ID: RWA-003 | Legal Issuer: Franklin Templeton Investment Funds (US) | Parent: Franklin Resources Inc. (NYSE: BEN) | Asset Class: TOKENIZED MONEY MARKET | Structure: SEC-Registered 40-Act Mutual Fund | Jurisdiction: United States | Launch: 2021 (Stellar); 2024 (Polygon) | Primary Chain: Stellar + Polygon + Ethereum | Investor Access: RETAIL / INSTITUTIONAL | Regulatory: SEC 40-Act Fund / Series Trust Structure | Transparency: HIGH DISCLOSURE (SEC reporting)