Franklin Templeton expands Benji tokenization platform to the Canton network

Odaily Planet Daily reports that asset management giant Franklin Templeton has announced the expansion of its proprietary Benji technology platform to the Canton Network, a private blockchain geared towards regulators. This move aims to deepen its role in the rapidly evolving market of tokenized financial products.

The Benji platform supports real-time transfers of tokenized fund shares, protocol-level compliant execution, and allows assets to be settled in stablecoins or cash equivalents. Initially deployed on public chains such as Stellar and Polygon, this expansion marks a shift towards institutional-grade infrastructure.

The Canton network reportedly processes over $6 trillion in tokenized U.S. Treasury securities and supports $280 billion in daily buyback transactions. Its native token, Canton Coin, initially plummeted by about 30% after its market debut on Monday, but has since recovered somewhat despite being listed on several exchanges. (Decrypt)