Franklin Templeton Launches Benji on the Base Blockchain, Becoming the First Asset Management Firm to Introduce a Tokenized Fund on This Innovative Platform

The move represents a significant shift for Franklin Templeton, which seeks to leverage blockchain's transparency and security to improve asset management.

Asset management giant Franklin Templeton has recently made waves in the financial industry by launching its proprietary blockchain-integrated recordkeeping system, Benji, on the Base blockchain, becoming the first asset manager to introduce a tokenized fund on this innovative platform.

This move marks a significant shift for Franklin Templeton, which now operates on Base, a “layer 2” blockchain built on Ethereum. The decision to integrate with Base is driven by the goal of offering cost-effective and faster fund transactions.

As a layer-2 blockchain, Base is designed to sit atop Ethereum, providing enhanced scalability and cost-efficiency while maintaining Ethereum’s core security features.

Franklin Templeton’s adoption of Base reflects a strategic choice for a blockchain solution that offers low-cost and fast processing capabilities, which is essential for improving transaction efficiency and creating a smoother experience for both the firm and its investors.

“New chain unlocked. Benji on the Base blockchain. With this announcement, Franklin Templeton is the first asset manager to build a tokenized fund on Base,” announced Franklin Templeton Digital Assets on October 31st.

Base is a layer 2 blockchain built on Ethereum, designed to make transactions faster and cheaper.

By utilizing Base, Franklin Templeton is better equipped to reduce transaction fees, one of the persistent challenges in blockchain-based systems, especially on Ethereum’s mainnet. This makes Base ideal for large-scale financial operations, enabling more streamlined, cost-efficient transactions that can also be settled quickly.

This move aligns with Franklin Templeton’s goal to meet the increasing demand for secure and transparent digital finance solutions that still meet the standards expected in traditional finance.

In a further step to solidify its position in blockchain finance, Franklin Templeton’s Benji system officially partnered with Aptos on October 2nd.

Aptos, a layer-1 blockchain known for prioritizing security and scalability, has now joined forces with Benji to enhance the reliability of its record-keeping processes.

This collaboration is expected to strengthen Benji’s infrastructure by adding another layer of security and scalability, enhancing the fund’s capacity to securely manage records and further streamlining digital transactions.

“Aptos partnership is now live! Aptos is a Layer 1 blockchain providing safety and scalability to drive growth and adoption within a decentralized ecosystem,” announced Franklin Templeton Digital Assets on October 2nd.

The addition of Aptos technology to Benji’s operations builds upon its existing strengths, helping it handle increasing record-keeping demands securely.

Aptos’ emphasis on robust technology and scalable solutions aligns with Franklin Templeton’s approach to blockchain finance, ensuring that Benji’s system is well-prepared to support larger-scale transactions as adoption of blockchain finance grows.

With this partnership, Franklin Templeton aims to integrate blockchain solutions that provide additional security and efficiency, bolstering investor trust in digital transactions.

Franklin Templeton’s launch of Benji on Base, combined with its recent partnership with Aptos, underscores a broader trend where traditional finance is increasingly converging with blockchain technology.

As blockchain gains traction in finance, firms like Franklin Templeton are stepping up to create hybrid solutions that meet both traditional standards and modern demands for transparency and security.

By integrating blockchain into its operations, Franklin Templeton is not only cutting costs and enhancing efficiency but also preparing for a future where finance and blockchain technology are deeply interconnected.

This development suggests that asset managers are gradually recognizing blockchain’s potential to improve the management of funds, as well as to create a secure environment for digital transactions.

Franklin Templeton’s initiatives with Benji and partnerships like the one with Aptos illustrate the transformative power of blockchain, which can drive innovations that make finance more accessible, transparent, and cost-effective.