BNB Chain holds 61.7% share of Franklin Templeton Benji platform

BNB Chain has become the largest blockchain with assets on the Franklin Templeton Benji tokenization platform, with approximately US$1.5 billion recorded in assets on the chain.

Summary

BNB Chain currently holds US$1.5 billion in assets of the Franklin Templeton Benji platform, leading all networks. RWA.xyz data shows that BNB Chain accounts for 61.71%, while Stellar has slipped to second place. Franklin Templeton is continuing to expand tokenized finance business through Kraken, MoonPay, Binance and multiple global public chains.

According to RWA.xyz data quoted by BNB Chain, this figure accounts for 61.71% of the platform's distributed asset value. This milestone marks a major shift in the distribution of platform networks. BNB Chain's holdings have soared 1226% in the past month, surpassing Stellar, which previously held the largest share. The data refers to the broader Benji platform rather than just the stand-alone BENJI tokenized money market fund.

BNB Chain holds the largest share of Benji's assets

As of July 18, RWA.xyz listed distributed assets of Franklin Templeton Benji platform of approximately US$2.44 billion. BNB Chain accounted for approximately US$1.5 billion of this. Stellar followed closely with approximately $573.4 million, while Ethereum held approximately $159.1 million. Base, Arbitrum, Avalanche, Polygon and Aptos hold smaller shares. This shift stems from Franklin Templeton's decision in 2025 to bring its Benji technology platform to BNB Chain. The integration allows the asset management company to use BNB Chain to process transaction and ownership records related to tokenized financial products.

RWA.xyz separately lists BENJI's assets of approximately US$734.3 million, which indicates that the platform's overall data and fund data should not be treated equally. The broader platform includes multiple tokenized products, while BENJI represents only a share of Franklin OnChain's U.S. Government Monetary Fund for investors to use.

Stellar remains at the core of Franklin Templeton's tokenization process

Franklin Templeton launched a blockchain-based money market fund on Stellar in 2021. The product became an early example of US-registered mutual funds using public chain technology to process transactions and maintain equity records. Cryptocurrency analyst ALLINCRYSTPTO said Stellar provided an early foundation before Franklin Templeton expanded the tokenization strategy to more networks. However, current data from RWA.xyz shows that BNB Chain now holds the largest share of assets tracked on the broader Benji platform. The data does not show how much of the recent growth comes from new issues and how much comes from assets transferred across the network.

Franklin Templeton extends BENJI access through cryptographic platform

Franklin Templeton has also expanded the use of its tokenized products through major crypto companies. The company introduced BENJI to MoonPay Trade in June, allowing eligible institutional customers to convert between stablecoins and tokenized fund products through an on-chain trading system. The asset management company also partnered with Kraken parent company Payward to integrate BENJI into a collateral and cash management tool. The cooperation also covers plans to develop more tokenized investment products. Another arrangement between Franklin Templeton and Binance allows eligible institutions to use tokenized money market fund shares as off-chain collateral.

Tokenized finance gains wider institutional distribution

Franklin Templeton's multi-chain strategy comes at a time when more traditional financial companies are using the public chain to distribute regulated investment products. The company has expanded its tokenization efforts to multiple networks while developing new products and distribution partnerships. Franklin Templeton also partnered with Ondo Finance to develop a tokenized ETF, designed for round-the-clock wallet-based transactions outside the United States. The latest BNB Chain data shows that the blockchain distribution landscape can change rapidly as issuers add new networks and institutional access points. Currently, BNB Chain leads Franklin Templeton's broader Benji platform in distributed value, while Stellar remains the company's network to launch its public chain fund strategy.