Franklin Templeton can now provide Benji purchases and redemptions using USDC 24/7/365 with near-instantaneous settlement
CHICAGO, June 06, 2024 (GLOBE NEWSWIRE) -- Franklin Templeton, the global asset management firm established since 1947 and with $1.6 trillion assets under management, has selected Zero Hash, the leading crypto and stablecoin infrastructure platform, to natively embed USDC funding rails into their platform, for purchases and redemptions of the Franklin OnChain U.S. Government Money Fund (FOBXX) (the “Fund”). One share of the Fund is represented by one BENJI token.
Institutional wallets on the Benji Investments platform can now benefit from 24/7/365 USDC funding rails to purchase and redeem tokenized assets with near real-time settlement. Zero Hash’s full stack API infrastructure provides a seamless and compliant bridge for Benji token investors to on and off-ramp into the Franklin OnChain U.S. Government Money Fund.
The Franklin OnChain U.S. Government Money Fund was launched in 2021 and is the first and only U.S.-registered fund to use a public blockchain as the source of truth to process transactions and record share ownership. As of March 31, 2024, the Fund held over $360 million in assets under management, highlighting Franklin Templeton’s leading position in the overall $1.1bn tokenized treasuries market.
“Tokenization has the potential to revolutionize the finance industry for the new era of investing,” said Roger Bayston, Head of Digital Assets at Franklin Templeton. “We’re delighted to further democratize access to our “Fund”, leveraging Zero Hash’s payment rails to provide a user-friendly on and off ramp for tokenized assets. Zero Hash has built a market leading reputation for reliable, proven and compliant infrastructure and we’re delighted they will provide trusted USDC funding rails for Benji Token holders.”
"We are pleased to have been chosen as the trusted stablecoin payments infrastructure for Franklin Templeton’s Benji Token, an industry leading tokenized money market fund,” said Edward Woodford, Founder and CEO of Zero Hash. “Franklin Templeton’s decision to partner with Zero Hash is testament to our leading position as the defacto crypto and stablecoin infrastructure for platforms to seamlessly on and off-ramp customers in to tokenized assets.”
About Zero Hash
Zero Hash is a B2B2C crypto-as-a-service infrastructure platform that allows any platform to embed digital assets natively into their own customer experience quickly and easily through a matter of API endpoints. Zero Hash’s turnkey solution handles the entire backend complexity and regulatory licensing required to offer crypto products.
Zero Hash Holdings, through its subsidiaries, powers neo-banks, broker-dealers, payment groups as well as non-financial brands to offer crypto and stablecoin powered products.
Zero Hash Holdings is backed by investors, including Point72 Ventures, Bain Capital Ventures, and NYCA.
Zero Hash LLC is a FinCen-registered Money Service Business and a regulated Money Transmitter that can operate in 51 US jurisdictions. Zero Hash LLC and Zero Hash Liquidity Services LLC are licensed to engage in virtual currency business activity by the New York State Department of Financial Services. In Canada, Zero Hash LLC is registered as a Money Service Business with FINTRAC.
Zero Hash Australia Pty Ltd. is registered with AUSTRAC as a Digital Currency Exchange Provider, with DCE registered provider number DCE100804170-001. This registration enables Zero Hash to offer its crypto services in Australia. Zero Hash Australia Pty Ltd. is registered on the New Zealand register of financial service providers, with Financial Service Provider (FSP) number FSP1004503. A FSP in New Zealand is a registration and does not mean that Zero Hash Australia Pty Ltd. is licensed by a New Zealand regulator to provide crypto services. Zero Hash Australia Pty Ltd.’s registration on the New Zealand register of financial service providers does not mean that Zero Hash Australia is subject to active regulation or oversight by a New Zealand regulator. Zero Hash Europe B.V. is registered as a Virtual Asset Services Provider (VASP) registration by the Dutch Central Bank (Relation number: R193684). Zero Hash Europe Sp. Zoo is registered as a VASP by the Tax Administration Chamber of Poland in Katowice (Registration number RDWW – 1212).
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Zero Hash services and product offerings may not be available in all jurisdictions. Zero Hash accounts are not subject to FDIC or SIPC protections, or any such equivalent protections that may exist outside of the US. Zero Hash’s technical support and enablement of any asset is not an endorsement of such asset and is not a recommendation to buy, sell, or hold any crypto asset. The value of any cryptocurrency, including digital assets pegged to fiat currency, commodities, or any other asset, may go to zero. Zero Hash is not registered with the SEC or FINRA. Zero Hash does not provide any securities services and is not a custodian of securities, including security tokens, on behalf of customers.
