Franklin Templeton CEO Jenny Johnson said at TOKEN2049 in Singapore that many tokenized funds launched by rival firms still amount to digital replicas of traditional financial products rather than structures that fully use blockchain’s efficiency. She pointed to the firm’s BENJI fund as an example of a different model, saying it records asset ownership directly on a public blockchain, supports yield that accrues by the second, and carries a transaction cost of about $1.13 per trade versus roughly $150 through traditional methods. BENJI was launched in 2021 and, according to the remarks cited in the report, was the first registered mutual fund in the United States to use a public blockchain to record ownership. The associated tokenized money market fund has reached an estimated total size of $2.5 billion. The report was published by Techub News and cited Wu Blockchain.
Franklin Templeton CEO Jenny Johnson said at TOKEN2049 in Singapore that many tokenized funds from competing firms are still just digital copies of traditional financial products, without actually tapping the efficiency gains offered by blockchain.
Johnson pointed to the firm’s BENJI fund as an example. She said the fund records asset ownership directly on a public blockchain and supports yield calculation on a per-second basis. Transaction costs are about $1.13 per trade, compared with roughly $150 through traditional methods.
BENJI was launched in 2021 and was described as the first registered mutual fund in the US to use a public blockchain to record ownership. Its related tokenized money market fund has reached an estimated total size of $2.5 billion.
The report was published by Techub News and cited Wu Blockchain.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
