Key Highlights
- Franklin Templeton expanded its Benji Technology Platform to the Canton Network for institutional investors.
- The move allows banks and trading firms to hold and trade Benji tokens privately and in real time.
- Canton Network now hosts $396 billion in tokenized assets.
Franklin Templeton has expanded its blockchain-based Benji Technology Platform to the Canton Network, a private blockchain designed for regulated institutions. The development allows the $1.5 trillion asset manager to offer its tokenized funds and investment products to a wider range of institutional investors.
Bringing tokenized funds to more institutions
According to Franklin Templeton, this integration connects its Benji Platform with Canton’s Global Collateral Network, which would allow participants such as banks, market makers, and trading firms to hold and trade its Benji tokens.
These digital shares represent Franklin Templeton’s OnChain U.S. Government Money Fund, which enables real-time transactions and instant settlement using stablecoins or cash equivalents.
“Integrating our Benji Technology Platform with the Canton Network allows us to deliver a private blockchain option alongside the interoperability clients expect, without compromising on transparency and security.” Roger Bayston, the head of digital assets at Franklin Templeton, said in the press release.
How the Benji platform works
Benji serves as Franklin Templeton’s blockchain-native system that issues and records tokenized fund shares. It allows approved wallets to send tokens instantly and keeps everything in line with regulations.
The platform was first presented to the U.S. Securities and Exchange Commission (SEC) in 2019 and publicly launched in 2021 with the Franklin OnChain U.S. Government Money Fund (FOBXX), the first SEC-registered mutual fund to record ownership on a public blockchain. Since launch, it has managed over $844 million in distributed asset value, according to data from RWA.xyz.
Digital Asset Holdings developed the Canton Network in 2023. It is a blockchain that allows different institutions to transact privately and securely. It currently hosts about $396 billion in real-world assets, including stablecoins and tokenized securities. Firms such as Goldman Sachs and Tradeweb are already part of the ecosystem, making it a growing hub for institutional finance.
Why institutions prefer Canton network
According to Sandy Kaul, head of innovation at Franklin Templeton, the integration is a result of institutional players who want privacy in their blockchain transactions.“They did not want their trades to be recorded across public blockchains,” Kaul said. Darius Sit, founder of QCP, described the integration as proof that “regulated tokenized products can power the next generation of institutional finance.”
Also Read: Circle Reports 66% Revenue Surge, Confirms Arc Blockchain Token
