The Franklin OnChain U.S. Government Money Fund was launched in 2021 and is the first U.S.-registered fund to use a public blockchain to process transactions and record share ownership. One share of the Fund is represented by one BENJI token and the Fund’s transfer agent maintains the official record of share ownership via a proprietary blockchain-integrated system that utilizes blockchain technology for transaction activity. As of March 31, 2024, the Fund held over $360 million in assets under management.

“We are excited that BENJI token holders will have the ability to transfer shares amongst each other,” said Roger Bayston, Head of Digital Assets at Franklin Templeton. “Eventually, we hope for assets built on blockchain rails, such as the Franklin OnChain U.S. Government Money Fund, to work seamlessly with the rest of the digital asset ecosystem.”