Franklin Templeton pitches BENJI as an onchain rate in Pendle discussion

The asset manager's tokenized Treasury money fund is being framed as both a yield benchmark and collateral for onchain markets Franklin Templeton wants its tokenized money market fund to be more than a parking spot for cash. In a discussion shared with Pendle on X, the firm described BENJI as a way for its Treasury money fund to serve as an onchain rate and collateral . Think of BENJI as a receipt that lives on a blockchain.