Franklin Templeton has partnered with Singapore based DigiFT to distribute its BENJI tokenized money market funds to accredited and institutional investors across Asia. DigiFT holds Capital Markets Services and Recognised Market Operator licenses from the Monetary Authority of Singapore (MAS).
The BENJI platform is Franklin Templeton’s anchor blockchain offering, with a market capitalization exceeding $800 million. The asset manager launched its first blockchain based mutual fund in 2021 and has since issued tokenized money market funds across the US, Luxembourg, Hong Kong and Singapore.
DigiFT will serve as a distribution partner for the funds, which feature an intraday yield mechanism that calculates accrual at one second resolution. Tokens are transferable around the clock between permissioned wallets with near instant on chain settlement. Franklin Templeton is positioning the product for treasury management and as off exchange collateral.
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