Franklin Templeton’s BENJI token has surged past $2.5 billion in on-chain assets in 2026, marking an extraordinary growth trajectory for tokenized government securities. Starting the year at about $594 million, this more than fourfold increase in assets under management (AUM) signals a substantial shift in institutional interest toward blockchain-based Treasury exposure.

The BENJI token tracks shares of the Franklin OnChain US Government Money Fund (FOBXX), a mutual fund investing exclusively in US Treasuries. Despite US government bonds being one of the most traditional and low-yield asset classes, BENJI’s rapid growth reflects an accelerated appetite for digital access to these instruments.

Multi-chain Expansion and Market Positioning

Initially launched in April 2021 on the Stellar blockchain, FOBXX has expanded across seven public networks including Ethereum, Polygon, Avalanche, Arbitrum, and Solana. This multi-chain deployment strategy has been key in attracting diverse investor bases and improving liquidity. Peer-to-peer token transfer volumes exceeded $211 million by March 31, 2026, underscoring active secondary market engagement.

In perspective, Franklin Templeton manages total assets around $1.74 trillion as of April 30, 2026, rendering BENJI’s current share approximately 0.14% of firm assets. While still a small fraction, this rapid scaling within five years highlights tokenized Treasuries’ emergence from novelty to a growing institutional product.

Strategic partnerships have further accelerated adoption. Collaborations with DigiFT and MoonPay Trade have enhanced accessibility for Asian investors and enabled smooth stablecoin-to-BENJI token conversions without resorting to legacy financial systems. also Franklin Templeton’s on-chain Treasury transaction via Tradeweb on the Canton Network represents a breakthrough integration with traditional fixed income electronic trading platforms.

The growth of BENJI exemplifies a broader trend where conventional financial products embrace blockchain for transparency, settlement efficiency, and global accessibility. Investors seeking secure, government-backed assets now have a tokenized alternative that offers real-world asset exposure combined with decentralized finance innovation.

This material is informational and not financial advice.