Franklin Templeton Expands Tokenized Fund Platform to Canton Network

Bringing Tokenized Funds to More Institutions

Franklin Templeton has expanded its blockchain-based Benji Technology Platform to the Canton Network, a private blockchain designed for regulated institutions. This development allows the $1.5 trillion asset manager to offer its tokenized funds and investment products to a wider range of institutional investors.

According to Franklin Templeton, this integration connects its Benji Platform with Canton’s Global Collateral Network. This connection will allow participants such as banks, market makers, and trading firms to hold and trade its Benji tokens. These digital shares represent Franklin Templeton’s OnChain U.S. Government Money Fund, enabling real-time transactions and instant settlement using stablecoins or cash equivalents.

"Integrating our Benji Technology Platform with the Canton Network allows us to deliver a private blockchain option alongside the interoperability clients expect, without compromising on transparency and security," Roger Bayston, the head of digital assets at Franklin Templeton, stated in the press release.

How the Benji Platform Works

Benji serves as Franklin Templeton’s blockchain-native system that issues and records tokenized fund shares. It allows approved wallets to send tokens instantly and ensures compliance with regulations.

The platform was first presented to the U.S. Securities and Exchange Commission (SEC) in 2019 and publicly launched in 2021 with the Franklin OnChain U.S. Government Money Fund (FOBXX). This fund was the first SEC-registered mutual fund to record ownership on a public blockchain. Since its launch, it has managed over $844 million in distributed asset value, according to data from RWA.xyz.

Digital Asset Holdings developed the Canton Network in 2023. It is a blockchain that enables different institutions to transact privately and securely. The network currently hosts approximately $396 billion in real-world assets, including stablecoins and tokenized securities. Firms such as Goldman Sachs and Tradeweb are already participants in the ecosystem, positioning it as a growing hub for institutional finance.

Why Institutions Prefer the Canton Network

According to Sandy Kaul, head of innovation at Franklin Templeton, this integration addresses the demand from institutional players seeking privacy in their blockchain transactions. "They did not want their trades to be recorded across public blockchains," Kaul explained. Darius Sit, founder of QCP, described the integration as a demonstration that "regulated tokenized products can power the next generation of institutional finance."