Financial services titan Franklin Templeton is integrating its proprietary record-keeping and tokenization platform on BNB Chain, the native blockchain of the world’s largest crypto exchange by trading volume.
In a new announcement on X, Franklin Templeton says that its Benji Technology Platform – which lets users tokenize and trade securities – will be adding BNB Chain to its list of compatible blockchains, joining Ethereum (ETH), Solana (SOL), and Stellar (XLM).
As stated by Roger Bayson, head of digital assets at Franklin Templeton,
“Our goal is to meet more investors where they’re active, while continuing to push the boundaries of what tokenization can deliver with security and compliance at the forefront. Together, Franklin Templeton and BNB Chain will work to deliver tokenized assets with greater utility, and enhanced features for retail and institutional clients across the globe.”
Earlier this month, Binance announced that it would be forming a partnership with Franklin Templeton in a move to bring crypto assets to the world of traditional finance (TradFi).
At the time, Sandy Kaul, executive vice president and head of innovation at Franklin Templeton, said that the firm views blockchain technology as an aid to TradFi rather than competition.
“We see blockchain not as a threat to legacy systems, but as an opportunity to reimagine them. By working with Binance, we can harness tokenization to bring institutional-grade solutions like our Benji Technology Platform to a wider set of investors and help bridge the worlds of traditional and decentralized finance.”
According to its official website, the platform was built as a means of tokenizing and servicing mutual funds over blockchain technology.
“The Franklin OnChain U.S. Government Money Fund (FOBXX) is the world’s first mutual fund to use blockchain technology to process transactions and record share ownership. The Fund’s transfer agent maintains the official record of share ownership via a proprietary blockchain-integrated system that currently utilizes public blockchain networks for transaction activity.”
Follow us on X, Facebook and Telegram
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Alberto Andrei Rosu
