Franklin Templeton has extended its Benji Technology Platform to the Canton Network, a blockchain designed for regulated financial institutions. This integration allows Benji’s tokenized assets, such as its onchain US government money market fund, to function as collateral and liquidity within Canton’s Global Collateral Network.
Each Benji token represents a share of the fund, with intraday yield calculations and ownership recorded directly onchain. The collaboration aims to connect regulated tokenized investment products with institutional digital-asset markets, aligning with the growing interest of traditional financial institutions in blockchain solutions under clearer regulatory frameworks.
Institutional infrastructure and ecosystem
Canton’s Global Collateral Network enables banks, asset managers, and market makers to tokenize and mobilize assets for collateral management and settlement. Major backers, including HSBC and BNP Paribas, have supported the network, while its developer, Digital Asset, recently secured $135 million to expand Canton’s infrastructure and ecosystem.
By joining Canton, Franklin Templeton adds regulated, onchain investment products to a growing roster of tokenized instruments, further bridging traditional finance and digital-asset markets.
Tokenization adoption accelerates
Franklin Templeton is part of a broader trend of major financial institutions embracing tokenization of real-world assets (RWAs). Hashgraph CEO Eric Piscini attributes this shift to increasing regulatory clarity in major markets. Other examples include BlackRock’s tokenized fund initiatives and Citi’s exploration of digital asset custody solutions.
Proponents highlight that trillions in RWAs could eventually move onchain, citing benefits such as faster settlement, improved transparency, lower operational costs, and enhanced liquidity. However, as Pharos CEO Alex Zhang noted, building a compliant, interoperable foundation for tokenized finance will take time.
Industry data indicates that the total value of tokenized RWAs, excluding stablecoins, has reached roughly $36.6 billion, with institutional funds accounting for about $3 billion and tokenized US Treasurys representing approximately $8.4 billion.