Franklin Templeton Expands Benji onto Ethereum Blockchain

user avatar

by Giorgi Kostiuk

2 years ago

Franklin Templeton, a renowned asset management firm, has extended its reach into decentralized finance by launching its tokenization project, Benji, on the Ethereum blockchain.

Benji Project: Path to Tokenization

This marks the company's fifth platform integration in 2023. Previously, Benji was successfully launched on Aptos, Avalanche, Arbitrum, and Base. It is now also available on Stellar and Polygon.

Advancements in Asset Management

Sandy Kaul, Head of Innovation Strategies, discussed in a podcast how work on the DeFi solution began in 2017. The project includes a system for issuing and managing tokens and a wallet adhering to KYC and AML regulations. This system ensures secure key storage and allows for regulated fund issuance.

The new stack supports thorough regulatory reporting and allows easy exchange of stablecoins within Franklin Templeton's network.Sandy Kaul

Prospects for the Investment Community

This new system is a significant improvement over Franklin Templeton's 50-year model, shifting to a simplified wallet system. Kaul believes this change will facilitate user interaction and open up more investment opportunities.

This initiative underscores the growing role of DeFi, highlighting its significance for the traditional finance industry and expanding asset management options.

Tier I

Sector: #18291

Sealed Cache Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, caches will be stored in your inventory and can be opened with Keys.

Other news

NEAR Protocol Achieves 50 Million Operations Milestone

chest

NEAR Protocol's chain abstraction infrastructure has surpassed 50 million lifetime operations, marking a significant achievement in simplifying multichain crypto interactions.

user avatarArif Mukhtar

Solana Sees Significant RWA Inflows

chest

Solana has recorded $348 million in net inflows of real-world assets over the past 30 days, increasing its tokenized RWA value to $720 million.

user avatarMaria Gutierrez

Aave Governance Considers Emergency Powers to Protect Users

chest

Aave governance is considering a proposal to grant emergency powers to guardians to freeze vulnerable lending pools during security threats.

user avatarDavid Robinson

Router Protocol Users Must Move Assets During Grace Period

chest

Router Protocol users must take action during the grace period to bridge assets back to origin chains before relayer nodes are disconnected.

user avatarJacob Williams

Arbitrum Proposes Disqualification of Three DeFi Protocols from Future Grants

chest

A new governance proposal by Arbitrum aims to disqualify three DeFi protocols from future DAO grant allocations due to alleged reporting failures and misuse of prior incentives.

user avatarAndrew Smith

Router Protocol to Shut Down Crosschain Network and Burn 303 Million Tokens

chest

Router Protocol has announced a deprecation plan to shut down its crosschain messaging network and burn 303 million ROUTE tokens due to unsustainable maintenance costs.

user avatarZainab Kamara

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.