Franklin Templeton Benji on BNB Chain Hits $1.5B

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Data from rwa.xyz backs the claim. As of mid-July 2026, BNB Chain holds about 61.71% of all Benji assets. That share tops every other chain by a wide margin.

How Benji on BNB Chain Reached $1.5B

Franklin Templeton runs a tokenization platform called Benji. The platform records fund ownership directly on public blockchains. BNB Chain joined that lineup in July 2025.

Since then, assets on the network have climbed fast. rwa.xyz now tracks about $1.5 billion in Benji value on BNB Chain. Stellar, the original host, sits second at roughly $583 million.

The climb marks a fast shift for a regulated fund. Benji products now total about $2.45 billion across all chains. BNB Chain alone accounts for more than half of that.

What the Benji Platform Does

Benji is not a token by itself. It is the software layer that Franklin Templeton uses to tokenize traditional funds. The flagship product is the Franklin OnChain U.S. Government Money Fund, known as FOBXX.

Each fund share maps one to one to a token. On Stellar that token trades as BENJI. On EVM chains like BNB Chain it appears as iBENJI.

FOBXX holds short-term government securities, cash, and repurchase agreements. So the token gives holders exposure to a regulated money market fund. The blockchain acts as the official record of ownership.

What It Means to Hold Shares On-Chain

On BNB Chain, smart contracts handle the registry, transfers, and yield. So ownership updates settle on-chain rather than on a private ledger. That setup allows round-the-clock settlement and permissioned peer-to-peer transfers.

The fund also accrues yield daily. New tokens drop into holder wallets to reflect that yield. Low network fees make these frequent, small updates cheap to run.

How BNB Chain Overtook Stellar

Benji launched on Stellar in 2021. For years, Stellar held most of the fund’s on-chain value. That balance has now shifted toward BNB Chain.

Low fees and fast settlement help explain the move. BNB Chain also connects to the wider Binance ecosystem. Those traits appeal to issuers who want cheap, quick transfers.

BNB Chain has chased real-world asset issuers for over a year. It markets low fees, quick finality, and compliance tooling to institutions. Franklin Templeton’s growth fits that broader push.

Franklin Templeton framed the expansion around access when it launched on BNB Chain in 2025. Roger Bayston, its head of digital assets, said the goal was to meet more investors where they are active. The Block reported his comments at the time.

The rest of the Benji supply spreads across smaller chains. Ethereum holds about $159 million. Base, Arbitrum, Avalanche, Polygon, Aptos, and Solana split the remainder.

Why the Data Sources Disagree

Not every tracker shows the same number. rwa.xyz counts about $2.45 billion across the full Benji platform. DefiLlama, by contrast, reports roughly $794 million for BENJI across nine chains.

The gap comes from what each tool counts. Some trackers separate BENJI from iBENJI and wrapped versions. So readers should check which asset a dashboard measures before comparing figures.

Market Reaction Stays Muted

The announcement did not move BNB’s price much. The token traded near $572 to $577 in mid-July 2026. Broader consolidation kept the market quiet.

Early reaction on X was small but positive. The original post drew about 15,500 views at first count. RWA-focused accounts mostly amplified the $1.5 billion figure.

No major skeptics pushed back on the figure, at least so far. RWA analysts mostly read it as continued institutional momentum. Reddit forums showed little activity on the news.

What Franklin Templeton Has Not Confirmed

The $1.5 billion milestone comes from BNB Chain, not from Franklin Templeton. The asset manager has not published a release on the figure. Still, rwa.xyz data lines up closely with the claim.

Some details stay unclear. The split between FOBXX and other Benji products is not public. It is also unknown how much value is new rather than moved from other chains.

These gaps matter for anyone reading the milestone as pure growth. Some of the $1.5 billion could reflect assets moved between chains. So the net-new total may be smaller than the headline suggests.

What Comes Next for Benji on BNB Chain

Tokenized money market funds keep growing across crypto. BlackRock’s BUIDL and Ondo Finance compete in the same category. Franklin Templeton’s lead on BNB Chain adds to that momentum.

The tokenized treasury market still leans toward Ethereum overall. Yet BNB Chain has won strong issuer adoption in specific cases. Franklin Templeton is now its clearest example.

Whether BNB Chain can hold its lead may depend on fees, compliance tools, and demand. For now, Benji on BNB Chain stands as the platform’s largest single deployment. Readers should treat these figures as a snapshot that can shift daily.

This article is for information only and is not financial advice. Always do your own research before investing in any tokenized product.