Tokenized Fund Bridge
Franklin Templeton and MoonPay Partner to Bridge Tokenized BENJI Fund with Institutional Stablecoins
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Franklin Templeton is partnering with MoonPay to connect its BENJI tokenized U.S. Treasury money market fund with MoonPay Trade’s institutional on-chain infrastructure, enabling eligible investors to swap between stablecoins like USDC and USDT and BENJI token exposure without leaving blockchain networks. The integration, delivered through MoonPay Trade’s single API, is designed to reduce intermediaries and friction so institutions can move 24/7 between yield-bearing cash-like assets and stablecoin liquidity for uses such as treasury management, DeFi liquidity provision, collateral, and portfolio rebalancing. Franklin Templeton says tokenized money market funds become more valuable when they can match the speed and programmability of the broader digital-asset ecosystem. MoonPay positions the deal as part of a wider convergence between traditional finance and DeFi, effectively creating a liquidity and workflow bridge for tokenized products. Franklin Templeton also frames the effort within its broader digital-asset expansion, including plans for a dedicated Franklin Crypto business, and highlights the potential for more granular, holding-time-based yield distribution from tokenized structures compared with conventional money market funds.
Key Points
1
BENJI is identified as Franklin Templeton’s on-chain U.S. Treasury money market fund with ticker **FOBXX**, and the integration is positioned as a bridge between that tokenized product and institutional stablecoin liquidity.
2
MoonPay Trade—used for the BENJI/stablecoin swaps—was described as a newly launched institutional platform “introduced in late May,” built to provide a single API across **“more than 200 blockchains,”** with capabilities including **cross-chain routing, trade execution, settlement, collateral movement, and tokenized asset transactions** (with compliance features).
3
Franklin Templeton Head of Innovation & Digital Assets **Sandy Kaul** framed the deal in terms of a longer-term roadmap, saying she views **2026 as “the year of the universal liquidity layer,”** with stablecoins and tokenized funds becoming interoperable across trading, lending, and collateral management.
4
MoonPay Institutional CEO **Caroline Pham** said tokenized money market funds can improve **liquidity and capital efficiency** when institutions can access an on-chain financial ecosystem; the report also notes her move to MoonPay after serving as **former acting chair of the U.S. Commodity Futures Trading Commission**.
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