VeChain, a layer-1 blockchain for real-world applications (read: people who think “real-world” means “not crypto”), is partnering with $1.5 trillion asset manager Franklin Templeton to integrate the company’s BENJI platform for enterprise payments. Because nothing says “trust” like a financial giant throwing its weight behind a blockchain that’s basically a digital ledger for your grandma’s knitting patterns. 🧵💸
The move extends the reach of Franklin Templeton’s platform while providing businesses operating on VeChain another stablecoin option, according to a statement shared with CryptoMoon. Or, as I like to call it, “the financial equivalent of a toddler’s tantrum but with more spreadsheets.” 🧠💣
Franklin Templeton’s BENJI platform permits tokenized access to the company’s Franklin Templeton OnChain U.S. Government Money Fund (FOBXX), an onchain US government money fund worth about $780 million. The fund invests in cash, government securities and collateralized repurchase agreements. One BENJI token is equivalent to one share in the fund, which the company tries to peg to $1. Because who doesn’t want to own a piece of a fund that’s basically a financial version of a “this is fine” meme? 🐶🔥
As part of the move, infrastructure provider Bitgo will also join VeChain as a custody partner, while Keyrock, a crypto investment firm, will bring derivatives trading capabilities. Because nothing says “financial security” like trusting a company that’s never been hacked… *wink*. 🧠🔐
“We’re gonna make your money work harder… or at least look cooler on a spreadsheet.” 📊💼
VeChain claims that its dual-token structure enables predictable and low-cost operations, which are helpful for money-market funds like FOBXX. Because nothing says “predictable” like a blockchain that’s slower than a sloth on a Sunday afternoon. 🐢📉
BENJI platform on other blockchains
According to RWA.xyz, the BENJI platform is available on at least seven blockchains: Stellar, Ethereum, Arbitrum, Base, Avalanche, Polygon and Aptos. It holds most of its market cap on Stellar, or $432 million at this writing. Because nothing says “market cap” like a blockchain that’s basically a digital version of a party where everyone’s pretending to be rich. 🎉💰
Compared to other blockchains running Franklin Templeton’s platform, VeChain has a relatively low total-value-locked at $1.7 million as of Wednesday. The seven-day volume of the decentralized exchanges (DEXs) was $36,221. Because nothing says “volume” like a DEX that’s busier than a toddler’s bedtime. 🍼📉
Some competitors to Franklin Templeton’s FOBXX fund are BlackRock’s BUIDL, which has a $2.4 billion market capitalization, and Ondo’s Short-Term US Government Bond Fund, which has a $709 million market cap. Among the three tokenized funds, FOBXX has the most holders, with 690 buying in, while the other two have less than 100 each. Because nothing says “popularity” like a fund that’s basically a cult with a spreadsheet. 🧠🪔
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2025-07-24 17:32