Franklin Templeton, a leading asset management firm, has reached another milestone in its DeFi implementation process. The company recently launched its innovative tokenization project, Benji, on Ethereum, marking its fifth platform integration this year after Aptos, Avalanche, Arbitrum and Base. Notably, Benji is now available on seven platforms, in addition to its previous presence on Stellar and Polygon.
🚨$1.6 trillion FRANKLIN TEMPLETON’S TOKENIZATION PLATFORM!
Sandy Kaul, Head of Innovation Strategies at Franklin Templeton, talks about the company’s Benji Tokenization platform, which includes a KYC AML Wallet system.
The Benji tokenization platform recently launched on… pic.twitter.com/ElNcuzmf8R
— Tony Edward (Thinking Crypto Podcast) (@ThinkingCrypto1) December 27, 2024
In a recent podcast, Sandy Kaul, head of Innovation Strategies at Franklin Templeton, revealed that the asset management firm began building its DeFi solution in 2017. Furthermore, Kaul stated that the company has built a stack designed to issue and manage tokens, which includes a wallet system that complies with KYC and AML standards.
According to Kaul, Franklin Templeton operates a regulated wallet system and securely manages the keys in a secure cold storage location. Furthermore, the company carries out temporary work, allowing users to issue regulated funds through its network, handle subscriptions and redemptions of the funds, and monitor shareholder changes. The company also manages returns, interest payments and corporate actions through its on-chain stack.
Also Read: Institutional Adoption of Crypto as Franklin Templeton Sees a New Era of Assets
Kaul stated that the newly launched stack allows Franklin Templeton to issue all regulatory reporting and facilitates the exchange of stablecoins within its network, seamlessly moving them into its yield-producing money market funds.
Franklin Templeton’s innovation highlights the growing adoption of DeFi in the mainstream. It highlighted how emerging technology can enable traditional industries to scale, allowing asset managers to explore new frontiers while improving their products. Kaul described the process as an upgrade to the company’s 50-year infrastructure and moving from a complex, account-based system to one that unites investors’ funds through the new portfolio system.
In addition to the unification of funds, Kaul noted that the newly created wallet introduces an interoperable and leveraged environment for the platform’s users. He believed that the shift would significantly change the system and open up opportunities for investment.
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