Franklin Templeton has connected its on-chain U.S. Treasury money market fund, BENJI (ticker: FOBXX), to MoonPay Trade, the institutional platform of crypto payments and trading infrastructure provider MoonPay, according to a report by The Block. The integration allows institutional investors to swap BENJI tokens directly for major stablecoins such as USDC and USDT through a single API, creating a seamless liquidity hub for tokenized yield-bearing assets.
The partnership addresses a critical friction point in decentralized finance (DeFi): the ability to quickly move between traditional on-chain funds and stablecoin liquidity without exiting the blockchain ecosystem. Through MoonPay Trade’s infrastructure, which supports routing, settlement, and collateral movement across more than 200 blockchains, eligible institutions can now deploy capital into DeFi protocols, use BENJI as collateral for loans, or rebalance portfolios in real time. For stablecoin holders, the integration offers a regulated route to gain exposure to a tokenized U.S. Treasury money market fund.
Franklin Templeton’s BENJI was one of the first tokenized money market funds to gain institutional traction, leveraging public blockchain records since its launch in 2021. The firm has been expanding BENJI’s utility through distribution and collateral partnerships, including recent work with Payward (Kraken’s parent) and Binance. The MoonPay agreement further positions BENJI as a cash-management tool for digital asset markets, while MoonPay – which launched MoonPay Trade in May 2026 – adds a major $1.74 trillion asset manager to its institutional-grade execution network.
The move signals a growing convergence between traditional finance and DeFi. By enabling efficient on-chain liquidity rails for tokenized real-world assets, such integrations could accelerate institutional adoption and make on-chain capital markets more competitive with traditional finance, particularly for treasury management and collateralized lending.
