Shift in Asset Distribution

Franklin Templeton’s Benji tokenization platform has seen a significant reallocation of assets, with BNB Chain now accounting for about $1.5 billion, or 61.71%, of the total distributed value. Data from RWA.xyz indicates the platform’s overall assets stand around $2.44 billion as of mid-July 2026.

This marks a sharp increase for BNB Chain, where holdings grew by 1,226% in the past month. The network overtook Stellar, which previously led in asset share and now holds roughly $573 million to $583 million, placing it second. Ethereum follows with approximately $159 million, representing about 6.5% of the total.

Background and Multi-Chain Expansion

Franklin Templeton initially launched its blockchain-based U.S. government money market fund on Stellar in 2021, establishing an early model for tokenized mutual funds that use public blockchains for transaction processing and ownership records. The Benji platform has since expanded across multiple networks, including Base, Arbitrum, Avalanche, Polygon, and Aptos, which hold smaller portions.

The integration with BNB Chain, which occurred in 2025, has enabled the asset manager to leverage the network for tokenized financial products. This development reflects a broader strategy to enhance accessibility and efficiency for institutional investors through various blockchain infrastructures.

Institutional Partnerships and Access

Franklin Templeton has broadened distribution of its tokenized products through collaborations with major platforms. Partnerships with Binance, Kraken’s Payward, and MoonPay allow eligible institutional clients to use Benji shares for trading, collateral management, and cash management purposes.

These efforts support the platform’s growth by connecting traditional finance products with on-chain capabilities, facilitating smoother transitions between stablecoins and tokenized fund shares.

Broader Context in Tokenized Finance

The rise of BNB Chain within the Benji ecosystem underscores increasing institutional interest in public blockchains for regulated investment products. Franklin Templeton continues to develop its tokenization initiatives, including additional products and distribution channels, as the sector moves beyond initial pilots toward wider adoption.

Stellar retains historical importance as the original network for the fund, while the current distribution highlights the competitive dynamics among blockchains seeking to host significant institutional asset flows.