Franklin Templeton to bring BENJI platform to VeChain for enterprise payments
Franklin Templeton has launched the BENJI platform on at least seven blockchains, with the fund’s largest market share on Stellar.
VeChain, a layer-1 blockchain for real-world applications, is partnering with $1.5 trillion asset manager Franklin Templeton to integrate the company’s BENJI platform for enterprise payments.
The move extends the reach of Franklin Templeton’s platform while providing businesses operating on VeChain another stablecoin option, according to a statement shared with Cointelegraph.
Franklin Templeton’s BENJI platform permits tokenized access to the company’s Franklin Templeton OnChain U.S. Government Money Fund (FOBXX), an onchain US government money fund worth about $780 million. The fund invests in cash, government securities and collateralized repurchase agreements. One BENJI token is equivalent to one share in the fund, which the company tries to peg to $1.