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VeChain Partners with Franklin Templeton to Enhance Enterprise Payments

Franklin Templeton collaborates with VeChain to enhance its tokenized treasury fund reach, integrating BitGo for custody and Keyrock for trading support.

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Summary

Franklin Templeton has partnered with VeChain to expand access to its tokenized treasury fund via the BENJI platform, integrating BitGo for custody and Keyrock for trading. The Franklin OnChain U.S. Government Money Fund (FOBXX) is the second-largest tokenized treasury fund, with over $780 million in assets. This collaboration aims to enhance institutional adoption of tokenized assets and improve operational efficiency on VeChain's blockchain.

Terms & Concepts
  • BENJI platform: A platform by Franklin Templeton that allows tokenized access to money market funds, facilitating enterprise payments.
  • FOBXX: The Franklin Templeton OnChain U.S. Government Money Fund, a tokenized fund investing in cash and government securities.
  • total-value-locked (TVL): A metric used to measure the total value of assets locked in a decentralized finance (DeFi) protocol.