Franklin Templeton Expands its Tokenization Platform to Ethereum

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As a seasoned crypto investor with a knack for spotting trends and staying ahead of the curve, I must say that Franklin Templeton’s expansion of its Benji tokenization platform to Ethereum is nothing short of exciting. Having been through the rollercoaster ride of the crypto market since its inception, I’ve seen firsthand how crucial it is for established players like Franklin Templeton to embrace innovation and adapt to new technologies.

Franklin Templeton is debuting its Benji tokenization system on the Ethereum blockchain, making it the fifth platform launch of the year following Aptos, Avalanche, Arbitrum, and Base. Previously, it had been exclusively available on Stellar and Polygon networks.

This launch signifies a significant stepping stone in our company’s journey to create cutting-edge blockchain technologies tailored for our clients.

Franklin Templeton Pushes Tokenization Forward with Ethereum Launch

In a recent update on their blog, Franklin Templeton unveiled plans to broaden the reach of its Benji tokenization platform by integrating it with the Ethereum network. This move is an extension of previous launches on Aptos, Avalanche, Arbitrum, and Base. Notably, until now, the platform was accessible only on Stellar and Polygon.

New chain unlocked. BENJI is now live on @ethereum!

Ethereum, the second-largest blockchain platform, was created with a focus on scalability, security, flexibility for programming, and decentralization.

Download the Benji app here:
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— Franklin Templeton Digital Assets (@FTDA_US) November 14, 2024

The launch marks a substantial step forward in the development journey of blockchain applications tailored for our clients. It aims to maximize the potential of Ethereum’s Virtual Machine and smart contract features, thereby amplifying the performance of our tokenized investment vehicles.

As reported by RWA, tokenized treasuries have experienced a nearly 2% increase over the past week, pushing their overall market value beyond $2.37 billion. In this context, XYZ is noteworthy. The Franklin Templeton on-chain market fund, worth approximately $409 million, ranks as the third largest, following BlackRock’s BUIDL and Ondo’s USDY.

BlackRock has recently added Aptos, Optimism’s OP Mainnet, Polygon, Arbitrum, and Avalanche to their BUIDL platform, which they also started using last year with Franklin Templeton’s fund. This year, BlackRock has increased its involvement in the crypto world with Bitcoin ETFs launched in January, followed by further expansion with BUIDL.

Regarding the multi-chain development of BUIDL, Securitize CEO Carlos Domingo stated this was a significant milestone as Securitize issued the same asset across various chains for the first time ever. He further noted that the alteration in their blockchain system hints at potentially massive changes. The tokenized funds sector is seeing rapid expansion and innovation, with the heat turning up.

FOBXX Marks Major Milestone for Coinbase’s Base

Through the Benji Investments app, investors now have direct access to purchasing and storing shares of Franklin Templeton’s tokenized fund, FOBXX, on Coinbase’s Base blockchain. This means that traditional assets are now more manageable, with the convenience and enhanced security of blockchain technology as an additional benefit.

The activation of FOBXX on Base’s platform recently is a significant milestone for the network, having been established in 2022 and quickly gaining prominence as one of the major players in the Ethereum layer-2 sector. At the same time, Base is pleased to announce that it has added FOBXX, its largest asset manager yet, to its roster.

This action represents a notable achievement for Base, a platform that’s grown to bring on board reputable institutions, making investments more approachable, all while leveraging blockchain technology to ensure faster and more efficient transactions at reduced costs.

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2024-11-14 18:32