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Franklin Templeton Expands Benji onto Ethereum Blockchain

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by Giorgi Kostiuk

a year 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.

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