Vechain, a layer-1 blockchain for real-world applications, cooperates with $ 1.5 trillion asset manager Franklin Templeton to include the company’s Benji platform for business payments.
The move reaches the reaches of the Franklin Templeton platform while providing businesses that operate on the vechain of another Stablecoin option, according to a statement shared with cointelegraph.
The Benji platform of Franklin Templeton allows tokenized access to Franklin Templeton Onchain US Government Money Fund (FOBXX), an onchain US government money fund worth $ 780 million. The funds are investing in cash, security and collateralized resurrection agreements. A Benji token is equivalent to a part in the fund, which the company is trying to take at $ 1.
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As part of the move, infrastructure Bitgo provider will also join Vechain as a careful partner, while Keyrock, a crypto investment company, will bring derivatives trading capabilities.
“Collaboration will strengthen the Franklin Templeton distribution approach, while providing businesses and institutional investors that interact with the vechain a diverse way to integrate tokenized money market funds into their payment and cash management options,” the statement said.
The vechain claims that the dual-token structure enables unpredictable and inexpensive operations, which are useful for money-meal funds such as Fobxx.
Related: What is vechain, and how does it work?
Benji platform with other blockchains
According to In RWA.xyz, the Benji platform is available in at least seven blockchain: stellar, Ethereum, arbitrum, base, avalanche, polygon and aptos. It holds most of its market cap on Stellar, or $ 432 million in this writing.
Compared to other blockchains that operate the Franklin Templeton platform, the vechain has a relatively low total amount locked at $ 1.7 million until Wednesday. The seven -day volume of decentralized exchange (Dex) is $ 36,221.
Some competitors in Franklin Templeton’s Fobxx Fund are Blaidl’s Blackrock. Among the three tokenized funds, Fobxx has the most holder, with 690 purchases, while the other two have less than 100 each.
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