BNB Chain now holds around $1.5 billion in assets on Franklin Templeton’s Benji tokenization platform, capturing 61.71% of the platform’s total distributed asset value, according to data from RWA.xyz. This dominance comes after the network recorded a 1,226% surge in holdings over the past month.
The capital inflows have displaced Stellar from the top spot. This shift reshapes the initial landscape, considering Stellar was the network where Franklin Templeton first launched its blockchain-based money market fund strategy in 2021. By comparison, Franklin Templeton only expanded its Benji platform to BNB Chain in 2025 to offer asset managers the option of utilizing BNB Chain for transaction processing and recordkeeping. Beneath the two leading networks, the remaining share of assets is distributed in smaller amounts across Base, Arbitrum, Avalanche, Polygon, and Aptos.
The broader Benji platform value differs from the specific portfolio of the BENJI token (Franklin OnChain U.S. Government Money Fund). BENJI assets are tracked separately and currently stand at around $734.3 million.
Institutional Collateral Network
Franklin Templeton’s push into the tokenization sector goes hand in hand with expanding its liquidity reach. In June 2026, the firm integrated BENJI into the MoonPay Trade platform specifically to cater to institutional client transactions. This move aligns with a partnership with Kraken (Payward), establishing BENJI as a cash management and collateral instrument.
This collateral utility also extends beyond open markets. Through a separate arrangement with Binance, Franklin Templeton enabled institutions to use shares of their tokenized money market fund as off-exchange collateral. On the product front, they partnered with Ondo Finance to develop tokenized ETFs that operate entirely from wallets and can be traded 24/7 without interruption.
Whoever Builds the Tools Controls the Capital
The leap in dominance from a pioneer network to a younger ecosystem illustrates how institutional capital operates. Investment managers do not allocate funds based on legacy track records. Liquidity will always migrate toward networks that offer the most ready-to-use collateral management tools.
Source: crypto.news.
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Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
