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Franklin Templeton Taps BNB Chain for BENJI Expansion After Binance Team-Up

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In brief

  • Franklin Templeton’s tokenization platform is being integrated with BNB Chain
  • Franklin Templeton is also working with Binance on separate crypto products.
  • BNB hit an all-time high of $1,079 on Sunday

Franklin Templeton’s tokenization platform is expanding to BNB Chain, bringing one of the world’s largest asset managers to the Binance-created blockchain.

The asset manager, which has $1.6 trillion in assets under management, said the move would allow Franklin Templeton to use BNB Chain’s “low-cost, compliance ready” infrastructure, while expanding the availability of its products, according to a press release.

The Benji Technology Platform is used to administer shares in Franklin Templeton’s OnChain U.S. Government Money Fund. The product debuted on layer-1 network Stellar in 2021 and has grown to $732 million since then, according to crypto data provider RWA.xyz.



The money market fund, which is backed primarily by government securities, cash, and repurchase agreements, has 938 holders across eight different blockchains, including Ethereum, Solana, Avalanche, and layer-2 network Base.

“Our goal is to meet more investors where they’re active,” Roger Bayston, head of digital assets at Franklin Templeton, said in a statement. “Together, Franklin Templeton and BNB Chain will work to deliver tokenized assets with greater utility.”

Franklin Templeton and Binance said in a joint statement earlier this week that the two are working on separate digital asset products that are “tailored to a broad range of investors.” More details are expected later this year.

BNB Chain debuted as an alternative to Ethereum in 2020 under the name Binance Smart Chain. It serves as a layer-1 network and dovetails with opBNB, a layer-2 network, and BNB Greenfield, a blockchain used for data storage.

BNB Chain was home to $12.5 billion worth of stablecoins on Thursday, while registering 2.27 million active addresses over the past day, according to crypto data provider DefiLlama.

BNB changed hands around $1,015 on Wednesday, according to crypto data provider CoinGecko. The asset’s price has increased 58% over the past year, while hitting a fresh all-time high $1,079 on Sunday, as the fifth largest cryptocurrency by market capitalization.

The network is receiving renewed attention as Aster, a decentralized exchange, challenges Hyperliquid in terms of 24-hour perpetual trading volume. Binance co-founder Changpeng Zhao has praised its recent performance as a “good start.”

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Ripple’s Technology Powers New Deal With DBS Bank And Franklin Templeton

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Singapore-based DBS Group has forged a strategic partnership with US asset manager and crypto exchange-traded fund (ETF) issuer Franklin Templeton, alongside Ripple, to enhance trading and lending services for accredited and institutional investors.

In a press release issued on Thursday, Ripple announced that the collaboration would utilize tokenized money market funds (TMMFs) and the blockchain payment firm’s stablecoin, RLUSD, to provide new financial solutions.

DBS Explores Liquidity Solutions With sgBENJI Tokens

Under this agreement, DBS Group, Singapore’s largest lender, will list Franklin Templeton’s sgBENJI token, which represents the asset manager’s tokenized US dollar money market fund, on the DBS Digital Exchange. 

This partnership marks a new milestone in the maturation of the digital asset ecosystem, which has been garnering increased interest from institutional investors—87% of whom are expected to invest in digital assets by 2025.

For context, crypto MMFs, or tokenized money market funds, are blockchain-based digital versions of traditional MMMFs that offer investors high liquidity, low-risk, short-term yield and ability to manage cash more efficiently. 

The collaboration aims to enable clients to manage their digital asset portfolios more effectively, particularly in response to the increased volatility seen in the broader digital asset industry over the past couple of months. 

By listing sgBENJI alongside RLUSD on the DBS Digital Exchange, eligible clients can quickly trade RLUSD for sgBENJI tokens. This allows for portfolio rebalancing into a more stable asset within minutes and around the clock.

Looking ahead, DBS plans to explore further liquidity options for clients by using sgBENJI tokens as collateral. This could involve facilitating credit through repurchase transactions (repo) or collaborating with third-party platforms, with DBS acting as a trusted agent holding the collateral. 

Ripple’s XRP Ledger Chosen For sgBENJI Tokenization

To enhance the tokenization ecosystem, Franklin Templeton will utilize the XRP Ledger (XRPL), designed for low-cost global financial transactions, for tokenizing sgBENJI. 

Per the announcement, the choice of Ripple’s blockchain is driven by its speed, efficiency, and low transaction costs, making it an ideal platform for managing high-volume, low-latency assets like tokenized money market funds. 

Lim Wee Kian, CEO of DBS Digital Exchange, emphasized the need for solutions that cater to the demands of a continuously evolving digital asset landscape. He stated that this partnership exemplifies how tokenized securities can enhance efficiency and liquidity in global financial markets. 

Roger Bayston, Head of Digital Assets at Franklin Templeton, echoed Kian’s statement on the new partnership, highlighting the potential of blockchain and tokenization in reshaping the financial ecosystem.

Lastly, Nigel Khakoo, VP and Global Head of Trading and Markets at Ripple, noted that this collaboration represents a significant advancement in the utility of tokenized securities. 

He described the partnership as a “game-changer” for investors, who will now be able to seamlessly rebalance their portfolios between stablecoins and yield-generating money market funds within a single, trusted framework.

The daily chart shows XRP’s price recovery. Source: XRPUSDT on TradingView.com

At the time of writing, Ripple’s associated token, XRP, is trading at $3.10, capitalizing on the market’s new uptrend with a 3.2% surge over the last 24 hours. However, the cryptocurrency remains 14% below its all-time high of $3.65. 

Featured image from DALL-E, chart from TradingView.com 

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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DBS, Franklin Templeton and Ripple sign MOU to launch trading and lending solutions

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DBS, Franklin Templeton, and Ripple have signed a Memorandum of Understanding (MOU) to collaborate on offering trading and lending solutions that leverage tokenized money market funds on the XRP Ledger blockchain and Ripple’s stablecoin, Ripple USD (RLUSD).

The MoU will see Franklin Templeton tokenize its money market fund, Franklin on-chain U.S. dollar short-term money market fund, on XRP Ledger, a public and enterprise-grade blockchain.

At the same time, DBS Digital Exchange (DDEx) will list sgBENJI, the money market fund token, alongside RLUSD, enabling DBS clients to rebalance their portfolios between a stablecoin and a yield-generating money market fund. This will help investors earn yield even during volatile periods.

Nigel Khakoo, VP and Global Head of Trading and Markets at Ripple, called the collaboration a game changer.

“2025 has been marked by a series of industry-firsts when it comes to traditional financial institutions moving onchain – and the linkup between Ripple, DBS and Franklin Templeton to enable repo trades for a tokenised money market fund with a regulated, stable and liquid mode of exchange, such as RLUSD, is truly a game-changer,” Khakoo said in an email announcement shared with CoinDesk.

“Investors can also seamlessly rebalance their portfolios between a stablecoin and a yield-generating money market fund, all within a single, trusted ecosystem, unlocking real-world capital efficiency, utility and liquidity that institutions demand,” Khakoo added.

Lim Wee Kian, CEO of DBS Digital Exchange, said that the collaboration is evidence of how tokenised securities can play that role while injecting greater efficiency and liquidity in global financial markets.

Additionally, DBS is considering allowing holders of sgBENJI tokens to pledge their tokens as collateral to borrow funds from the bank of third-party platforms.

The move will open new liquidity options for investors holding sgBENJI tokens, enabling them to leverage their digital assets to obtain credit while still retaining exposure to the underlying yield-generating money market fund.



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SEC Punts on BlackRock Ethereum ETF Staking, Franklin XRP and Solana Fund Decisions

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In brief

  • The SEC pushed back its deadline on staking in the BlackRock iShares Ethereum Trust to October 30, a 45-day delay.
  • The regulator also delayed its decision on Franklin Templeton XRP and Solana funds by 60 days to November 14.
  • In recent weeks, the agency has postponed decisions on rule change requests that would permit the listing of various spot altcoin funds and the addition of staking to current Ethereum ETFs.

The U.S. Security and Exchange Commission has delayed its decisions on the addition of staking to BlackRock’s iShares spot Ethereum exchange-traded fund, and on Franklin Templeton proposals for separate funds tracking the performance of Solana and XRP, according to filings the agency submitted Wednesday.

The SEC extended its deadline for addressing a rule change request by the Nasdaq exchange for staking in the iShares Ethereum Trust (ETHA) to October 30, a 45-day postponement from its original schedule.

It also pushed back its decision on 19b-4 rule change filings by Cboe that would allow the listing of the Franklin Templeton Solana ETF and Franklin Templeton XRP ETF to November 14, a 60-day deferral.



The latest filings follow a slew of SEC delays in recent weeks on proposals for altcoin funds. On Tuesday, the regulator put off ruling on Nasdaq’s bid to list the Grayscale Hedera Trust to November 12, also 60 days.

Last month, the SEC also held up resolving a request to add staking to the the 21Shares Core Ethereum ETF, which tracks the price of the second-largest cryptocurrency by market value.

At that time, it also moved back its decision on an application by Donald Trump’s media and technology company by 45 days to Oct. 8 for a Truth Social Bitcoin and Ethereum ETF that would track the two largest cryptocurrencies by market value.

And it announced identical delays for applications filed for spot XRP funds by Grayscale, CoinShares, Canary Capital, Bitwise, and 21Shares, a spot Dogecoin ETF from Grayscale, and a spot Litecoin product from CoinShares. The dates for potential approvals of those funds vary.

Those announcements followed delayed decisions on Solana ETFs from Bitwise, 21Shares, and VanEck, and a Dogecoin fund from 21Shares. Before August ended, the SEC was weighing 90 crypto ETF applications, which spanned a range of assets.

Bloomberg Senior ETF Analyst Eric Balchunas told Decrypt that the latest delays were consistent with the regulator’s recent approach, likely timing approvals of proposed altcoin ETFs and Ethereum staking after likely green-lighting proposals filed in July by Cboe and NYSE.

Those exchanges asked the SEC to approve amendments that could significantly shorten the approval process for future crypto exchange-traded funds, automatically listing certain products without requiring case-by-case filings.

In separate filings, the exchanges requested changes to their listing standards that would allow certain crypto ETFs to be listed without enduring the SEC’s rigorous evaluation, a process that requires exchanges to submit proposed rule changes. Under current guidelines, reviews of proposed changes to funds could take 240 days.

“They’ve been punting and punting […] and we expect them to keep putting everything off until the generic listing standards are done,” Balchunas said. “That is what we think will happen, probably in early October. After that, we expect a flood of ETFs probably in a couple months.”

He added: “We expect ETH staking to be part of it. This SEC showed every sign of being interested in working with the issuers and solving problems.”

Bloomberg analysts have predicted a more than 95% probability of Solana and XRP ETFs receiving approval this year. Balchunas described the odds on staking as “pretty high,” as well.

“We think they’ll allow that, too,” he said.

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Sec Delays Franklin Solana Etf Decision To November 2025
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SEC Delays Franklin Solana ETF Decision to November 2025

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The U.S. Securities and Exchange Commission has again delayed its decision on the Franklin Solana (SOL) exchange-traded fund, and set a new deadline of November 14, 2025.

This is after earlier delays in April, when the deadline was pushed to June, and then again in mid-June when the agency opened formal proceedings. That move started a 180-day countdown, which was set to expire on September 15, but with the latest change the final decision date has now been pushed further. 

In its release, the regulator said to carefully study the filing and its possible impact on investors. Once the November 14 deadline arrives, the Commission will have no option to delay further and must either approve or reject the ETF.

Meanwhile, Franklin’s proposal is one of several Solana-based ETFs currently being reviewed. Other companies, including Grayscale, VanEck, and 21Shares, have also submitted applications. 

Bloomberg Intelligence reported that many of these firms have updated their filings to improve their chances. Most of the applications are facing similar delays, with several final deadlines set in October. The first big date is October 10, when the SEC must decide on Grayscale’s Solana Trust. Analysts say that ruling could influence how the regulator handles the other pending applications.

Meanwhile, Solana price is up 2% today, and currently trades for $221, according to CoinMarketCap.

Optimism around the ETF filings is seen as one reason for the rally. Bloomberg ETF analyst James Seyffart has said on X that the “odds haven’t really changed much if at all” and maintained his prediction of a 95% chance that a Solana ETF will be approved by the end of 2025.

Also Read: SEC Delays Decision on BlackRock Ethereum ETF Staking



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BNB Hits Record High Exceeding $900 Following Binance And Franklin Templeton Collaboration

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Binance Coin (BNB), the native cryptocurrency of the world’s largest exchange by trading volume, reached a fresh all-time high (ATH) on Wednesday, buoyed by a new partnership between Binance and asset management giant Franklin Templeton. 

This surge in BNB’s value comes in tandem with a broader rally in the cryptocurrency market, as Bitcoin (BTC) rebounded to $114,000 after a period of consolidation between $110,000 and $112,000.

Binance And Franklin Templeton’s Vision

The collaboration between Binance and Franklin Templeton aims to leverage the latter’s knowledge in compliant tokenization of securities and Binance’s global trading infrastructure. 

The two firms seek to create innovative financial solutions that enhance efficiency, transparency, and accessibility in capital markets, while also focusing on competitive yield generation and streamlined settlement processes.

Sandy Kaul, Executive Vice President and Head of Innovation at Franklin Templeton, emphasized the transformative potential of this partnership. “As these tools and technologies evolve from the fringes to the financial mainstream, partnerships like this one will be essential to accelerating adoption,” she stated. 

By collaborating with Binance, the firm aims to broaden the reach of its institutional-grade solutions to a wider array of investors, effectively bridging the gap between traditional finance and decentralized finance (DeFi).

BNB Soars To New Record Of $905 

By partnering with Binance, Franklin Templeton aims to develop products that cater to the demands of global capital markets and co-create future investment portfolios. 

The ultimate goal is to transform the concept of tokenization into practical applications that enhance settlement efficiency, collateral management, and large-scale portfolio construction.

As seen in the daily chart below, BNB reached a new record price of $905 just minutes ago, accompanied by a 50% surge in trading volume over the past 24 hours, highlighting investors’ bullish sentiment surrounding Binance’s native token. 

The daily chart shows BNB’s price surge to a new record. Source: BNBUSDT on TradingView.com

Less than a month ago, BNB hit a record high of $900. After weeks of consolidation, however, the token successfully broke through the formidable resistance line established by last month’s price action. 

Featured image from DALL-E, chart from TradingView.com 

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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Best Crypto Investment Ideas According to CEO of $1.6T Asset Manager Franklin Templeton
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Best Crypto Investment Ideas According to CEO of $1.6T Asset Manager Franklin Templeton

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Bitcoin

aside, the best investment in crypto is its “picks and shovels,” according to the CEO of $1.6 trillion asset manager Franklin Templeton.

Jenny Johnson, the third-generation leader of the manager, spoke at the SALT conference in Jackson Hole, Wyoming on Tuesday, doubling down on what in her opinion will be the biggest use cases of blockchain technology and where investors should put their money.

In her view, bitcoin functions as a “fear currency” — a financial refuge for people in countries where governments can block access to funds or where national currencies lose value over time. But despite its appeal in those scenarios, she sees it as a distraction.

Bitcoin, she argues, is the “greatest distraction for one of the greatest disruptions that is coming to financial services.”

That disruption, she said, lies in the underlying infrastructure — not in digital assets themselves, but in the systems that support them. That’s where she believes capital should be focused.

“The picks and shovels are the baseline of the strong, layered apps,” Johnson said. “I like the rails as a starting point,” she added, referring to blockchain networks. “Then there are some great consumer apps that are coming out that I think are really exciting.”

She also sees promise in the role of validators, the entities that maintain blockchain networks. For active investment managers, they could offer a new layer of transparency and are a “game changer”.

“Just imagine seeing on public equity all the transactions that go in and out of that company and how much information that gives you,” she said.

Johnson led the asset management firm into digital assets after taking over her family’s company in 2020. Under her leadership, the firm has launched multiple crypto exchange-traded products and introduced the OnChain U.S. Government Market Fund, a tokenized investment vehicle.

She expects financial products like mutual funds and ETFs to eventually move to blockchains, where they could operate more efficiently and at lower cost. But for now, regulation remains the “biggest inhibitor” to that shift, she said.

Part of the hesitation, she added, comes from the sheer number of digital assets likely to fail — a level of risk regulators aren’t yet prepared to manage.



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