Key Points:
- USDC on Benji Investments is now supported to USD conversions for investing in Franklin OnChain US Government Money Fund shares.
- The service is available to institutional wallets, with potential future access for individual investors via the mobile app.
Franklin Templeton has announced that users of the Benji Investments platform can now exchange USDC for USD to fund investments in Franklin OnChain US Government Money Fund shares. Each share is represented by a “BENJI token.”
USDC on Benji Investments Support Now Available 2
Franklin Templeton Enables USDC on Benji Investments
Zero Hash, a crypto and stablecoin infrastructure platform supporting over 60 digital assets across multiple blockchains, provides the USDC to USD conversion services. These services enable investors to convert USDC on Benji Investments to USD, which is then transferred to their Franklin Templeton account to purchase BENJI tokens seamlessly. Additionally, investors can use Zero Hash to convert USD proceeds from BENJI token sales back to USDC.
The new feature is immediately available to certain institutional wallets on the Benji Investments platform. Shareholders can initiate conversions at any time, while USDC on Benji Investments services for individual investors using its mobile app may be enabled in the future.
Innovative Blockchain-Based Fund Pioneers U.S. Market
Launched in 2021, the Franklin OnChain U.S. Government Money Fund is the first and only U.S.-registered fund to use a public blockchain as the system of record for transactions and share ownership. Its investment objective is to provide a high level of current income while preserving shareholders’ capital and liquidity, aiming to maintain a stable $1.00 share price.
In April 2024, Franklin Templeton announced that institutional BENJI token holders can now transfer shares peer-to-peer on the public blockchain.
