BNB Chain takes 61.7% of Franklin Templeton’s Benji platform

BNB Chain has become the largest blockchain for assets tracked under Franklin Templeton’s Benji tokenization platform, with about $1.5 billion recorded on the network.

The figure represents 61.71% of the platform’s distributed asset value, according to RWA.xyz data cited byBNB Chain.

The milestone marks a sharp change in the platform’s network distribution. BNB Chain holdings rose 1,226% over the past month, moving ahead of Stellar, which previously held the largest share. The data refers to the wider Benji platform rather than only the standalone BENJI tokenized money market fund.

BNB Chain takes the largest share of Benji assets

RWA.xyz lists Franklin Templeton’s Benji platform with about $2.44 billion in distributed assets as of July 18. BNB Chain accounts for roughly $1.5 billion of that total. Stellar follows with about $573.4 million, while Ethereum holds around $159.1 million.

Base, Arbitrum, Avalanche, Polygon and Aptos hold smaller amounts. The shift follows Franklin Templeton’s decision to bring its Benji Technology Platform to BNB Chain in 2025. The integration allowed the asset manager to use BNB Chain for transactions and ownership records tied to tokenized financial products.

RWA.xyz separately lists the BENJI asset at about $734.3 million, showing why the platform and fund figures should not be treated as identical. The broader platform includes multiple tokenized products, while BENJI represents one share of the Franklin OnChain U.S. Government Money Fund for investors.

Stellar remains central to Franklin Templeton’s tokenization history

Franklin Templeton launched its blockchain-based money market fund on Stellar in 2021. The product became an early example of a U.S.-registered mutual fund using public blockchain technology to process transactions and maintain share ownership records.

Crypto analyst ALLINCRYPTO said Stellar provided the early foundation before Franklin Templeton expanded its tokenization strategy across more networks. However, current RWA.xyz data shows that BNB Chain now holds the largest share of assets tracked across the broader Benji platform. The data does not show how much of the recent increase came from new issuance compared with assets moved between networks.

Franklin Templeton expands BENJI access across crypto platforms

Franklin Templeton has also expanded the use of its tokenized products through major crypto companies. As reported by crypto.news, the firm added BENJI to MoonPay Trade in June, allowing eligible institutional clients to move between stablecoins and tokenized fund products through an onchain trading system.

The asset manager also partnered with Kraken parent Payward to integrate BENJI as a collateral and cash management tool. As reported by crypto.news, the partnership also covers plans to develop more tokenized investment products. A separate Franklin Templeton and Binance arrangement allows eligible institutions to use tokenized money market fund shares as off-exchange collateral.

Tokenized finance gains wider institutional distribution

Franklin Templeton’s multi-chain strategy comes as more traditional financial firms use public blockchains to distribute regulated investment products. The company has expanded its tokenization work across several networks while also developing new products and distribution partnerships.

As reported by crypto.news, Franklin Templeton has also worked with Ondo Finance on tokenized ETFs designed for round-the-clock wallet-based trading outside the United States. The latest BNB Chain data shows how quickly blockchain distribution can change as issuers add new networks and institutional access points.

For now, BNB Chain leads Franklin Templeton’s broader Benji platform by distributed value, while Stellar remains the network where the firm began its public blockchain fund strategy.