Franklin Templeton, MoonPay add Benji to on-chain trading

Franklin Templeton and MoonPay announced a partnership to integrate the Benji Technology Platform with MoonPay Trade, enabling eligible institutional users to swap supported stablecoins and Benji tokenized money market fund exposure through fully on-chain execution.

The initial integration links Franklin Templeton’s recordkeeping and transfer-agency platform for tokenized funds with MoonPay Trade’s institutional trading infrastructure. Institutions connected to MoonPay Trade can obtain quotes, route orders and execute swaps on chain between stablecoins and tokenized fund positions.

The firms said the arrangement is intended for on-chain treasury operations, liquidity management, portfolio rebalancing and collateral-adjacent workflows. Trades executed through MoonPay Trade use on-chain records for settlement and custody flows, removing the need for off-chain reconciliation for eligible counterparties.

MoonPay described adding BENJI as one of its first expansions beyond crypto, fiat and stablecoins into tokenized finance. MoonPay Trade will handle quotes, routing, network connectivity and on-chain execution for the integrated offering.

Franklin Templeton launched the Benji Technology Platform to provide blockchain-enabled recordkeeping and transfer agency services for tokenized investment products across retail and institutional channels. The firm used the platform to process the first U.S.-registered mutual fund to use blockchain for transaction processing, launched a fully tokenized UCITS fund in Luxembourg in 2024 and introduced a retail tokenized fund in Singapore in 2025. In April 2026 Franklin Templeton said it incorporated BENJI tokens as payment consideration in its planned acquisition of 250 Digital.

Benji tokens are available to U.S. retail investors through the Benji Investments mobile app and to global institutions through the Benji Institutional web portal. MoonPay Trade provides an institutional trading interface and an execution network that routes and executes on-chain transactions across its connectivity.

Sandy Kaul, Head of Innovation and Digital Assets at Franklin Templeton, said, “Tokenized money market funds only become more useful when they can move with the speed and programmability of the broader digital asset ecosystem.” Caroline D. Pham, CEO of MoonPay Institutional, commented that “digital assets like tokenized money market funds provide benefits like improved liquidity and capital efficiency, but only if institutions have access to the on-chain financial ecosystem.”

The companies described the partnership as the foundation for a broader strategic relationship aimed at expanding institutional access to on-chain financial markets.