Franklin Templeton has expanded its Benji platform to Canton Network, a blockchain designed for regulated institutions.
The Benji platform is responsible for the issuance and settlement of tokenized fund shares. It has been operational since 2021 with the FOBXX fund, which currently holds $844 million in distributed assets. Canton Network estimates that it processes $6 trillion in tokenized assets.
The network's native token experienced a 30% decline following its launch, despite securing exchange listings and a $540 million investment. Canton Network employs a "public-permissioned" model to facilitate institutional coordination.