Tokenized Fund Expansion

How the Fund Works: Blockchain Plus Traditional Management

The grBENJI structure splits record-keeping into two layers. BENJI tokens track ownership on blockchains like Ethereum, Solana, and Polygon. Meanwhile, Franklin Templeton Investor Services holds the master shareholder file and controls private keys CryptoNinjas. This dual system lets the fund correct blockchain errors and resync data if needed. The actual money stays invested in short-term U.S. Treasury bills, repurchase agreements, and dollar cash.

The fund targets a steady $1.00 net asset value, like a traditional money market fund. Investors get the safety of government-backed securities with the speed and transparency of blockchain transactions. No private keys are held by clients—only BENJI token ownership, which sits on-chain.

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A First-Mover Fund With Deep Roots in Blockchain

Franklin Templeton's FOBXX mutual fund pioneered this model back in April 2021, becoming the first U.S.-registered mutual fund to use public blockchain for transactions and share ownership. The new grBENJI offering builds on that foundation, expanding the same approach across multiple networks Yahoo Finance. By September 2025, BNB Chain was added to the BENJI token ecosystem, which already spans Stellar, Ethereum, Solana, Polygon, Avalanche, Arbitrum, Aptos, and Base.

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HashKey's Regulated Status Enables Hong Kong Distribution

HashKey Exchange holds two Hong Kong Securities and Futures Commission licenses: Type 1 (dealing in securities) and Type 7 (automated trading services). It runs a licensed virtual asset trading platform with strict investor eligibility rules Coin Law. The platform restricts access for certain jurisdictions and requires users to meet professional investor criteria, limiting grBENJI sales to qualified accounts only.

Distribution launched on August 24 through HashKey's Earn channel. Professional investors can now hold U.S. government debt on-chain without holding crypto directly. The setup appeals to institutions seeking yield on dollar reserves while gaining transparency benefits that blockchain provides.

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Part of a Larger Push Into Tokenized Real-World Assets

Franklin Templeton and HashKey frame this partnership as proof that regulated, yield-generating assets work well on blockchain rails. The combination offers institutional clients enhanced transparency, security, and efficiency compared to traditional settlement methods. Franklin Templeton has referenced SEC clearance for including tokenized assets in traditional funds, signaling regulatory acceptance in key markets.

The strategy targets Asia as a growth market for tokenized investments. Plans include expansion to Singapore, Tokyo, Dubai, and Bermuda. The model—real-world assets wrapped in blockchain infrastructure—may become a template for other asset managers seeking to serve tech-forward institutional clients while staying fully compliant.