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Franklin Templeton BENJI
B+SEC-Registered Fund (Franklin Templeton)SPOFRetail & Institutional
Franklin Templeton's OnChain US Government Money Fund (FOBXX) was the first SEC-registered fund to use a public blockchain for transaction processing and share ownership recording. The fund invests in US government securities and is accessible through the Benji app with a $20 minimum. Shares are tracked on Stellar and Ethereum blockchains.
77
Score Breakdown
Custody & Security35% weight
82
Ease of Use20% weight
75
Fees15% weight
75
Features10% weight
70
Transparency10% weight
82
Support10% weight
75
Assessment
Key Strength
First SEC-registered fund to use public blockchain for share tracking. Franklin OnChain US Government Money Fund accessible via the Benji app. $700M+ AUM. Stellar and Ethereum deployment.
Primary Risk
Single asset manager controls fund operations. On-chain component is share tracking, not direct asset custody. Minimum investment for direct access.
Pros
- +Pioneer in on-chain fund registration
- +Low minimum investment ($20)
- +Franklin Templeton brand (75+ years)
- +SEC-registered with full regulatory compliance
- +Lowest expense ratio (0.20%)
Cons
- -Single asset manager dependency
- -On-chain component is share tracking only
- -Limited DeFi composability
- -Two-chain deployment only
Custody Features
✕Multisig
✕Multi-Institution
✕No Single Point of Failure
Segregated Accounts
Proof of Reserves
Insurance
Regulated Custodian
No Physical Exposure
✕Multi-Jurisdiction
✕Inheritance
✕Segregated Insurance
✕IRA
✕Lending
Buy/Sell
✕Dynasty Trusts
Fees
0.20% expense ratio
Minimum$20 (via Benji app)
Security
Insurance & Regulatory
✓Qualified Custodian
Jurisdiction
United States
Licenses
SEC-Registered Investment Company (1940 Act), FINRA
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