Global asset manager Franklin Templeton has unveiled a groundbreaking blockchain-based feature called “Intraday Yield” on its proprietary Benji Technology Platform. The patent-pending innovation calculates and distributes investment yield proportionally down to the second when tokenized securities change hands, effectively allowing investors to earn yield for the exact duration they hold an asset, even if that period spans only part of a trading day.
How Intraday Yield Works
According to a press release shared with Bitcoin.com News, the Benji Platform now enables yield-bearing tokenized assets to accrue and distribute earnings proportionally for the precise holding period during intraday transfers. For example, an investor who sells a security in the middle of the day will still receive the yield accrued from the time of purchase to the moment of sale, rather than being compensated based on end-of-day ownership records as is traditional.
In addition to second-by-second precision, the system facilitates daily yield payouts, including weekends and public holidays, moving well beyond the industry norm of monthly distributions tied to daily snapshots. This dramatically enhances liquidity and fairness for investors who frequently trade or use tokenized assets as collateral.
“We believe features that are possible due to the composability of the blockchain environment, like Intraday Yield, have the potential to become an industry standard, ensuring that investors facilitating transactions of any size can realize the increased benefits and utilities of blockchain operating environments,” said Roger Bayston, Head of Digital Assets at Franklin Templeton.
Platform Milestones and Market Position
Franklin Templeton has been investing in blockchain technology since 2017. The Benji Technology Platform serves as the firm’s proprietary blockchain stack for trading, managing, and administering token-based investments. It also operates as a white-label solution for other institutions seeking to issue or manage tokenized funds.
Notable achievements include the world’s first U.S.-registered blockchain mutual fund launched in 2021, the first tokenized UCITS fund in Luxembourg in 2024, and a planned retail tokenized fund in Singapore. These milestones underscore Franklin Templeton’s commitment to pioneering on-chain asset management.
The firm’s flagship tokenized U.S. Treasury money market fund, the Franklin Onchain U.S. Government Money Fund (ticker: BENJI), currently has $750 million in assets under management, making it the second-largest tokenized money market fund globally, only behind BlackRock’s BUIDL fund. The introduction of Intraday Yield could further differentiate BENJI and attract institutional capital looking for more precise yield management.
Industry Implications
The ability to distribute yield on a second-by-second basis is a paradigm shift for tokenized securities. Traditional finance typically calculates returns on a daily or monthly cycle, often leading to inefficiencies in trading and collateralization. By leveraging blockchain’s real-time settlement capabilities, Franklin Templeton is setting a new benchmark for investor compensation that other asset managers may need to follow.
As the market for on-chain real-world assets (RWAs) continues to expand—currently exceeding $15 billion in total value locked across major protocols—innovations like Intraday Yield could accelerate adoption among traditional financial institutions. By providing fairer, more transparent yield distribution, Franklin Templeton aims to make blockchain-based investing not just an alternative, but a superior standard.