Franklin Templeton, the global investment management giant, has unveiled a patent-pending “Intraday Yield” feature on its Benji Technology Platform, allowing tokenized securities to accrue and distribute earnings proportionally by the second when assets change hands. This marks a significant leap in precision for investor compensation in the digital asset space.
Redefining Yield Distribution with Blockchain Precision
In a press release shared with Bitcoin.com News, Franklin Templeton explained that the blockchain-integrated system now enables yield-bearing tokenized assets to calculate earnings for the exact duration an investor holds them, even during intraday transfers. For example, an investor selling a tokenized fund share halfway through the day will still receive yield for their precise holding period, rather than being subject to end-of-day snapshots and monthly payouts typical of traditional funds.
The system also facilitates daily yield distributions, including weekends and holidays, moving beyond the industry standard of monthly payments. This innovation enhances capital efficiency and provides investors with more frequent income streams. Roger Bayston, Head of Digital Assets at Franklin Templeton, stated: “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.”
The Benji Platform: A Decade of Blockchain Investment
Franklin Templeton has been investing in proprietary blockchain technology since 2017. The Benji Technology Platform serves as the firm’s proprietary blockchain stack, powering the trading, management, and administration of token-based investments. It can be used as a white-label solution for institutional clients or to operate Franklin Templeton’s own tokenized money market funds.
The platform achieved several milestones: in 2021 it launched the first U.S.-registered blockchain mutual fund; in 2024 it introduced the first tokenized UCITS fund in Luxembourg; and it is currently developing a retail tokenized fund in Singapore. The firm's flagship tokenized product, the Franklin Onchain U.S. Government Money Fund (ticker: BENJI), is now the second-largest tokenized Treasury fund with $750 million in assets, trailing only BlackRock’s BUIDL fund.
Implications for Asset Management
The Intraday Yield feature underscores three key benefits of blockchain in asset management: transparency (every second of yield is recorded on-chain), automation (smart contracts handle distribution without manual intervention), and fairness (holding time precisely matches compensation). By eliminating the lag between trade settlement and yield accrual, Franklin Templeton is setting a new benchmark for how tokenized funds operate.
Industry observers believe this innovation could accelerate institutional adoption of tokenized assets, as it directly addresses the pain point of intraday liquidity and yield alignment. With the BENJI fund already competing closely with BlackRock, the addition of second-by-second yield distribution may give Franklin Templeton a competitive edge in attracting yield-seeking investors. As more asset managers explore blockchain rails, such real-time features are likely to become the norm rather than the exception.