I’m truly impressed by Franklin Templeton’s latest move in enabling peer-to-peer transfers for its yield-bearing BENJI security token on Stellar and Polygon blockchains. This development not only enhances the utility of the token but also puts Franklin Templeton at the forefront of the financial sector, promoting openness, transparency, and accessibility.
I observe that Franklin Templeton empowers users to transfer funds amongst themselves directly, with a total asset value of approximately $380 million, through the utilization of its BENJI token on both the Stellar and Polygon blockchains.
Investors in the Franklin OnChain U.S. Government Money Fund (FOBXX) are now able to easily transfer the fund’s BENJI tokens amongst themselves without the need for intermediaries.
I’ve come across a digital asset that can be found on both the Stellar (XLM) and Polygon (MATIC) blockchain networks. This particular token signifies ownership of shares in a fund, which in turn invests in government securities, cash reserves, and repurchase agreements. The benefits for token holders are a consistent return yield.
I’ve observed that according to Jason Chlipala, the chief business officer of Stellar Development Foundation, enabling peer-to-peer transfers positions Franklin Templeton as a pioneer in the financial sector. This move fosters an open and transparent environment while increasing accessibility for its clients.
We’re excited to announce peer-to-peer transferability for the yield-bearing BENJI security token! This new feature will provide users the ability to send BENJI tokens to other BENJI holder’s digital wallets. One BENJI security token is a share of the Franklin OnChain U.S.…
— Franklin Templeton Digital Assets (@FTI_DA) April 25, 2024
this advancement significantly improves the value and versatility of the token. It may open up opportunities for trading on alternative marketplaces, or function as security for loans within decentralized financial systems.
Expert: Roger Bayston, the digital assets chief at Franklin Templeton, underscores the necessity of smoothly incorporating cryptocurrencies and other blockchain-based assets into the larger digital asset marketplace. A burgeoning fad is the tokenization of U.S. Treasuries, which transfers conventional financial assets onto the blockchain infrastructure. Data from rwa.xyz reveals that this sector has amassed a significant market value of $1.2 billion.
In the year 2021, Benji emerged as the frontrunner in its category, boasting the greatest market value, while new entrants such as Ondo Finance and BlackRock’s BUIDL fund are making strides. Notably, Securitize is rapidly advancing, offering the unique feature of facilitating peer-to-peer token transfers.
Read More
Sorry. No data so far.
2024-04-25 21:16