Key facts
- Franklin Templeton's Benji money market fund processed 50,000 transactions for $1.13 on the Stellar blockchain.
- Traditional systems would have cost $75,000 for the same 50,000 transactions.
- Franklin Templeton CEO Jenny Johnson stated that Benji offers real-time per-second yield calculation.
- Benji is built natively on public blockchains, making the chain the source of truth.
- Franklin Templeton's tokenized money funds manage an estimated $2.5 billion in assets.
Franklin Templeton has demonstrated significant cost reductions in transaction processing by leveraging the Stellar blockchain for its tokenized money market fund, Benji. According to Sandy Kaul, head of digital assets at Franklin Templeton, 50,000 transactions that would have cost $75,000 on traditional systems were executed for just $1.13 on Stellar. This efficiency was highlighted by CEO Jenny Johnson at TOKEN2049 Singapore on October 7-8, 2026, where she contrasted Benji's native blockchain build with 'digital twins' of traditional products offered by competitors.
Johnson emphasized that Benji's native integration with public blockchains serves as the source of truth, enabling advantages such as real-time per-second yield calculation and drastically lower transaction costs. The company's tokenized money funds, including Benji, now manage an estimated $2.5 billion in assets. Kaul's reflections trace Franklin Templeton's journey from skepticism to becoming an institutional player on-chain, driven by a focus on transfer-agent efficiency and the removal of middle and back-office overhead through self-executing smart contracts.