Franklin Templeton’s BENJI token has grown from $594 million to more than $2.5 billion in assets under management during 2026, making it the largest tokenized Treasury issuer this year. The surge was fueled by new partnerships and expansion across multiple blockchain networks.
How BENJI Grew
The token, which represents shares in a money market fund investing in U.S. government securities, saw its AUM more than quadruple in 2026. The company attributed the growth to a series of strategic partnerships and a push to make the token available on several blockchain platforms. That multi-chain approach allowed a wider range of investors to access the product without needing to switch networks.
Why Tokenized Treasuries Matter
Tokenized Treasury products let investors hold a digital token that tracks the value of short-term U.S. government debt. They offer a way to earn yield on crypto holdings without leaving the blockchain. Franklin Templeton’s lead in this space signals that traditional asset managers are finding traction with on-chain versions of conventional instruments.
What’s Next
The company is exploring additional blockchain integrations and partnerships to further scale the token. No specific timelines or new networks have been announced, but the rapid growth in 2026 suggests more expansion is likely.
