'BNB Chain’s surge to lead Franklin Templeton’s Benji platform reflects a decisive shift,' commented crypto analyst ALLINCRYPTO. The blockchain now holds approximately $1.5 billion of the platform's total $2.44 billion in tokenized assets, dominating with 61.7% of the distributed asset value, according to data from RWA.xyz. This move pushed BNB Chain ahead of Stellar, which previously held the largest portion.
BNB Chain’s holdings soared by 1,226% over the past month, driven by Franklin Templeton’s integration of its Benji Technology Platform onto BNB Chain in 2025. This integration enables the asset manager to utilize BNB Chain for managing transactions and ownership records tied to tokenized financial products. Meanwhile, Stellar controls around $573 million, and Ethereum accounts for about $159 million of Benji's assets. Smaller amounts reside on networks including Base, Arbitrum, Avalanche, Polygon, and Aptos.
It is important to distinguish between the broader Benji platform and the BENJI tokenized money market fund. RWA.xyz lists the BENJI asset at approximately $734.3 million, reflecting a subset of Franklin Templeton’s available tokenized products. The Benji platform encompasses various tokenized products, while BENJI specifically represents shares of the Franklin OnChain U.S. Government Money Fund.
Stellar was the initial blockchain for Franklin Templeton’s foray into tokenization, launching its blockchain-based money market fund there in 2021. This fund was one of the first U.S.-registered mutual funds utilizing public blockchain technology for transaction processing and share ownership records. However, recent shifts reveal BNB Chain's rising dominance in the platform's asset distribution. Data does not clarify what portion of growth originated from new issuances versus asset transfers across chains.
Material is informational and not financial advice.
