Franklin Templeton Expands Tokenized Fund Platform to Canton Network

Franklin Templeton has extended its Benji tokenization platform to the Canton Network, a private blockchain focused on institutional use. This integration allows the asset manager to provide tokenized funds to various financial entities operating within Canton’s Global Collateral Network. With an existing $1.5 trillion in assets under management, Franklin Templeton aims to enhance the market for tokenized financial products, leveraging Canton's blockchain-specific features to ensure compliance and interoperability. The Benji platform has been operational since 2021 and supports transactions in stablecoins or cash equivalents, promoting privacy and regulatory alignment in financial transactions. Additionally, Canton Network processes over $6 trillion in tokenized assets and $280 billion in daily transactions but faced challenges with its native token's early performance in the market. The move illustrates Franklin Templeton's commitment to evolving its digital asset strategies and responding to industry changes, further solidifying its position in the regulated fund issuance space.

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