Franklin Templeton has extended its Benji tokenization platform to the Ethereum network following its previous launches on Aptos, Avalanche, Arbitrum, and Base.
Franklin Templeton is introducing its Benji tokenization platform on the Ethereum network, which will be the fifth launch of the year, following Aptos, Avalanche, Arbitrum, and Base. Stellar and Polygon were the sole platforms on which it was previously launched.
This launch is a significant milestone in the company’s efforts to create new, inventive blockchain solutions for its clients.
Franklin Templeton Advances Tokenization with Ethereum Launch
Franklin Templeton announced in an X post that it is extending its Benji tokenization platform to the Ethereum network. This follows the previous Base, Arbitrum, Avalanche, and Aptos launches. The platform was previously exclusively accessible on Polygon and Stellar.
The launch represents a substantial advancement in developing blockchain solutions for clients. It will assist in leveraging Ethereum’s smart contract and virtual machine functionality to improve its tokenized funds’ capabilities.
As per RWA data, tokenized treasuries have experienced a nearly 2% increase in market capitalization this week, surpassing $2.37 billion. XYZ. Franklin Templeton’s on-chain market fund, valued at $409 million, is the third largest, following BlackRock’s BUIDL and Ondo’s USDY.
BlackRock has recently extended BUIDL to include Aptos, Optimism’s OP Mainnet, Polygon, Arbitrum, and Avalanche. Although Franklin Templeton’s fund has been operational since 2021, BlackRock has experienced a substantial surge in cryptocurrency this year. The company launched its Bitcoin ETFs in January, followed by BUIDL.
Carlos Domingo, the CEO of Securitize, characterized the multi-chain expansion of BUIDL as a critical moment in the company’s history, as it marked the first time that Securitize had issued the same asset on multiple chains. In this instance, Domingo stated that modifying their blockchain infrastructure indicates that this transformation may be substantial. The tokenized funds sector is experiencing significant growth and innovation, causing considerable fire.
FOBXX Defines a Significant Milestone for Coinbase’s Base
Investors may acquire and deposit shares directly into their digital wallets through the Benji Investments application, as Franklin Templeton’s tokenized fund, FOBXX, is also operational on Coinbase’s Base blockchain. This will enhance the accessibility of traditional assets for management, while the security and efficacy of blockchain will serve as an additional benefit.
The recent activation of FOBXX on Base is a significant milestone for the network, which was established in 2022 and has since become one of the most prominent names in the Ethereum layer-2 space. In the interim, Base has welcomed its most significant asset manager, FOBXX.
Base, which has emerged to onboard established institutions and make investing more accessible while utilizing blockchain for transaction speed and efficiency at much-reduced costs, achieves a significant milestone with this move.
