Key Takeaways
- • BNB Chain has become the largest single public blockchain network for Franklin Templeton's BENJI tokenized money market fund, with approximately $1.5 billion deployed on the network as of July 2026.
- • Franklin Templeton's BENJI fund maintains a total assets under management of $1.98 billion as an SEC-registered tokenized money market fund, operating across multiple blockchain networks with 55,000+ token holders.
- • Tokenized US Treasuries on BNB Chain have reached $3.5 billion in market cap, demonstrating significant institutional adoption of blockchain-based fixed-income instruments.
- • The partnership between Binance and Franklin Templeton, formalized in September 2025, continues to drive practical bridges between traditional finance and cryptocurrency infrastructure, with BENJI now live across 64+ products.
- • BlackRock's competing tokenized fund (BUIDL) has also crossed the $1.5 billion threshold, indicating broader institutional momentum in the tokenized asset space.
Summary
Franklin Templeton's BENJI tokenized money market fund has achieved a significant milestone with BNB Chain emerging as its largest single blockchain deployment. As of mid-July 2026, approximately $1.5 billion of the fund's capital is deployed on BNB Chain, reflecting the network's critical role in Franklin Templeton's cross-chain tokenization strategy. The BENJI fund itself maintains $1.98 billion in total assets under management and operates as an SEC-registered investment vehicle that has been operational since 2021.
The expansion underscores the accelerating institutional adoption of tokenized assets on blockchain infrastructure. BNB Chain's position as the primary venue for BENJI reflects both the technical capabilities of the Binance ecosystem and the strategic partnership established between Binance and Franklin Templeton in September 2025. That collaboration was designed explicitly to bridge traditional finance with cryptocurrency infrastructure in a practical, regulated framework suitable for institutional investors.
Beyond BENJI's performance, the broader tokenized asset ecosystem shows substantial growth. Tokenized US Treasuries on BNB Chain alone have accumulated a $3.5 billion market cap, demonstrating institutional appetite for blockchain-based fixed-income products. BENJI itself is now live across multiple blockchain networks and operates 64+ products serving over 55,000 token holders. The fund also includes native USDC issuance with $256 million outstanding, further integrating stablecoin liquidity into the platform.
Competition in the tokenized fund space remains active, with BlackRock's BUIDL tokenized fund also crossing the $1.5 billion threshold. However, Franklin Templeton's multi-chain distribution strategy and larger overall AUM position the BENJI fund as a leading institutional tokenized money market product. The concentration of $1.5 billion on BNB Chain alone reflects both the economic significance of a single blockchain deployment and the critical importance of reliable infrastructure for institutional asset custodians and administrators.
The expansion underscores the accelerating institutional adoption of tokenized assets on blockchain infrastructure. BNB Chain's position as the primary venue for BENJI reflects both the technical capabilities of the Binance ecosystem and the strategic partnership established between Binance and Franklin Templeton in September 2025. That collaboration was designed explicitly to bridge traditional finance with cryptocurrency infrastructure in a practical, regulated framework suitable for institutional investors.
Beyond BENJI's performance, the broader tokenized asset ecosystem shows substantial growth. Tokenized US Treasuries on BNB Chain alone have accumulated a $3.5 billion market cap, demonstrating institutional appetite for blockchain-based fixed-income products. BENJI itself is now live across multiple blockchain networks and operates 64+ products serving over 55,000 token holders. The fund also includes native USDC issuance with $256 million outstanding, further integrating stablecoin liquidity into the platform.
Competition in the tokenized fund space remains active, with BlackRock's BUIDL tokenized fund also crossing the $1.5 billion threshold. However, Franklin Templeton's multi-chain distribution strategy and larger overall AUM position the BENJI fund as a leading institutional tokenized money market product. The concentration of $1.5 billion on BNB Chain alone reflects both the economic significance of a single blockchain deployment and the critical importance of reliable infrastructure for institutional asset custodians and administrators.
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