Stellar Celebrates July 4th With Access-For-All Mission

Stellar Foundation’s CEO Denelle Dixon sat with Franklin Templeton’s Head Of Innovation Sandy Kaul to discuss the blockchain’s progress in democratizing financial access. “Today, we are really operating Peer 2 Peer, democratizing the transaction rails of society”.

Empowering people to have better lives, the next step is to bring the same P2P approach to institutional rails, Sandy Kaul notes. Franklin Templeton has been a pioneer in tokenized funds since 2021. The $1.7 trillion global asset manager’s flagship product is BENJI, a collection of Franklin OnChain U.S. Government Money Fund (FOBXX) based shares.

Franklin’s efforts center on using blockchain for record-keeping, real-time transfers & operations of regulated investment products. While it’s primarily money market funds (MMFs), the $1.7 trillion behemoth has expressed enthusiasm about expanding their range in the coming years.

This also gives Franklin Templeton full control over who can send & receive BENJI tokens. The setup is currently permissioned, providing extremely low management fees of roughly 0.15%.

Franklin Templeton’s proprietary blockchain-integrated stack also has extra features like KYC-compliant wallet-to-wallet payments & redemptions via preferred compliant stablecoins.

The progress of adoption is evident in the figures. According to on-chain statistics, Stellar’s (XLM) RWA-related market capitalization has significantly increased since last year, scoring $1 billion, $2 billion & $3 billion milestones back-to-back since the year began. The product line endured zero clawbacks due to real-time audit features built into the system.

Dashboard metrics now confirm a $3.02 billion Real World Asset (RWA) market cap, reflecting accelerating institutional tokenization on Stellar's ultra-efficient DLT blockchain. While BENJI’s shares are scattered across multiple blockchain platforms, 95% BENJI’s holders sit on Stellar’s XLM Network, including the entire retail long tail of small-balance wallets.

As Franklin OnChain U.S. Government Money Fund’s (BENJI) worth is nearing $2 billion, the product garnered 170% yield YoY, positioning itself as the fourth largest MMF issuer in the United States, only trailing behind BlackRock, Hashnote & Ondo in this swiftly-growing category.

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