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Deployments · Benji Investments · platform by Franklin Templeton

Franklin OnChain U.S. Government Money Fund, Luxembourg UCITS (gBENJI)New

The Luxembourg UCITS version of Franklin Templeton's on-chain government money fund, a constant-NAV short-term public debt money market fund whose share register is kept on Stellar by Franklin's own blockchain-based transfer agent. It extends the BENJI model to non-US investors; a distributing class for European investors (grBENJI) was admitted to trading on the 21X DLT trading venue in May 2026.

AnnouncedProof of conceptPilotLive (limited)Live (scaled)

Live (limited) since Feb 2025[1] — About $58 million on chain across the two classes in October 2026; US persons excluded. · Reviewed 24d ago

Assets
Fund interest[2]
One token per fund share in each class, recorded on Stellar
Networks
Stellar Public, permissionless[1][3]
Use cases
Primary issuance[5]Fund subscription and redemption[2]Secondary trading[3]
Jurisdictions
Luxembourg

Participants

  • Franklin TempletonIssuer, Asset manager, Transfer agent or registrar, Platform provider[1]United States
  • 21XDistributor[3]Germany
  • BNYDepositary or trustee[6]United States

Likely relevant regulation

Assets

Metrics

  • $58.12mAssets under management · as of 14 Oct 2026[5]
    On-chain via rwa.xyz at a $1 NAV, both classes; 17 holders.
  • $58.12mTokens on Stellar · as of 14 Oct 2026 · on Stellar[5]
    gBENJI about $56.8m and grBENJI about $1.3m.
  • ~$52.86mSupply on chain (daily) · as of 7 Nov 2026[7]
    Automated daily reading of on-chain supply across all chains.
  • ~$52.86mSupply on chain (daily) · as of 7 Nov 2026 · on Stellar[7]
    Automated daily reading.

Timeline

  1. Happened 13 May 2026 · Scope expansion · recorded 15 Oct 2026
    The grBENJI distributing class is admitted to trading on 21X, registered for sale in nine European countries.[3]
  2. Happened Feb 2025 (month only) · Launch · recorded 15 Oct 2026
    Franklin Templeton launches its Luxembourg-domiciled tokenised UCITS money fund on Stellar, using its in-house blockchain transfer agent.[1][4]

Sources

  1. [1]Franklin Templeton launches tokenized fund in Luxembourg — Ledger Insights, 27 Feb 2025. Accessed 15 Oct 2026.C
  2. [2]Franklin Templeton stellar.toml (Stellar issuer accounts for tokenised funds) — Franklin Templeton. Accessed 15 Oct 2026.B
  3. [3]21X DLT-Trading and Settlement System listing - grBENJI - Franklin OnChain U.S. Government Money Fund AB (Ddis) USD — 21X AG, 12 May 2026. Accessed 15 Oct 2026.B
  4. [4]Franklin Templeton runs the first U.S.-registered mutual fund on a public blockchain, on Stellar — Stellar Development Foundation. Accessed 15 Oct 2026.B
  5. [5]gBENJI asset page (on-chain data) — rwa.xyz. Accessed 15 Oct 2026.A
  6. [6]Key Information Document: Franklin OnChain U.S. Government Liquidity Fund, Class AB (Dis) USD (token grBENJI) — Franklin Templeton International Services, 15 Jun 2026. Accessed 28 Oct 2026.B
  7. [7]Supply by chain, read daily — On-chain (public RPC, automated daily refresh). Accessed 7 Nov 2026.A

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