Franklin Templeton partners with VeChain to expand enterprise payments via tokenized money market fund

Franklin Templeton, a global asset manager overseeing $1.5 trillion in assets, has announced a strategic partnership with VeChain, a layer-1 blockchain platform, to deploy its BENJI platform on the latter’s infrastructure. This collaboration aims to expand Franklin Templeton’s enterprise payment solutions while offering businesses on VeChain an additional stablecoin option. The BENJI platform provides tokenized access to Franklin Templeton’s Franklin Templeton OnChain U.S. Government Money Fund (FOBXX), a $780 million fund pegged to the U.S. dollar, with one BENJI token equivalent to one share in the fund. The initiative aligns with Franklin Templeton’s broader strategy to digitize financial services and cater to evolving corporate needs in the digital economy [1].

VeChain’s dual-token structure, designed for predictable and low-cost operations, is highlighted as a key enabler for integrating tokenized money market funds like FOBXX into enterprise payment systems. The partnership also involves infrastructure provider BitGo, which will act as a custody partner, and crypto investment firm Keyrock, which will introduce derivatives trading capabilities. Franklin Templeton emphasized that the collaboration strengthens its distribution strategy and provides enterprises and institutional investors on VeChain with a differentiated approach to integrating tokenized funds into their cash management workflows [1].

The BENJI platform, launched in 2025, already operates on seven blockchains, including Stellar, Ethereum, and Polygon, with the majority of its market capitalization ($432 million) concentrated on Stellar. However, VeChain’s current total-value-locked (TVL) stands at $1.7 million, with decentralized exchanges recording a seven-day trading volume of $36,221. While this figure lags behind competing platforms, VeChain’s enterprise-focused infrastructure and partnerships with major corporations such as DHL and PwC position it as a complementary partner for streamlining B2B transactions. Industry observers note that Franklin Templeton’s move reflects the maturation of blockchain adoption in finance, with traditional institutions increasingly diversifying infrastructure to mitigate risks and optimize performance [2].

Franklin Templeton’s FOBXX fund faces competition from BlackRock’s BUIDL ($2.4 billion market cap) and Ondo’s Short-Term U.S. Government Bond Fund ($709 million market cap). However, FOBXX distinguishes itself with the highest number of holders (690) compared to under 100 for its rivals. This highlights the platform’s growing appeal among institutional and corporate clients seeking scalable, transparent payment solutions. VeChain’s energy-efficient consensus mechanism and experience in enterprise-grade blockchain networks further support its suitability for this use case [3].

The expansion underscores a broader trend of financial institutions leveraging blockchain to address inefficiencies in legacy systems. By integrating VeChain’s infrastructure, Franklin Templeton aims to reduce settlement times, enhance transparency, and improve liquidity management for businesses. The partnership also signals a shift toward interoperability, with Franklin Templeton emphasizing its commitment to adapting to client requirements while maintaining regulatory compliance. As enterprise demand for faster, more transparent transactions grows, collaborations between asset managers and blockchain networks are expected to accelerate, bridging traditional finance and decentralized systems [3].

Source: [1] [Franklin Templeton to Launch Money Fund on VeChain] (https://cointelegraph.com/news/franklin-templeton-benji-vechain-enterprise-payments)

[2] [BTCUSD - Franklin Templeton to bring BENJI platform to...] (https://mx.advfn.com/bolsa-de-valores/COIN/BTCUSD/crypto-news/96492128/franklin-templeton-to-bring-benji-platform-to-vech)

[3] [BTCUSD - How traditional financial tools are making crypto...] (https://mx.advfn.com/bolsa-de-valores/COIN/BTCUSD/crypto-news/96492125/how-traditional-financial-tools-are-making-crypto)