Franklin Templeton pitches BENJI as an onchain rate in Pendle discussion
- —BENJI represents tokenized FOBXX fund shares targeting a $1.00 NAV across 11 blockchains
- —Total BENJI assets exceed $2 billion; the Singapore sgBENJI variant holds about $231 million
- —In October 2026, $150 million of sgBENJI was issued on the XRP Ledger via two $75 million subscriptions
- —An August 2026 SEC no-action letter lets Franklin funds use BENJI shares as collateral
Why it matters: Tokenized Treasury funds are becoming DeFi collateral and yield benchmarks, broadening institutional use of onchain assets.
Source: Crypto Briefing