Pendle Names BENJI in Broad Plans for Yield Infrastructure

Pendle named Franklin Templeton’s BENJI in a broad statement about extending its yield infrastructure to assets coming onchain, but did not announce a BENJI market or integration.

In its Oct. 19 post, Pendle described future use of its infrastructure across assets ranging from high-yield corporate bonds to natively issued funds like BENJI. The post gave no implementation details or timeline for supporting the token.

Pendle’s Oct. 14 post introduced an interview with Chetan Karkhanis, a senior vice president in Franklin Templeton’s FIRST group for Asia Pacific. The discussion covered BENJI’s origins, scaling tokenized funds and Asia’s real-world asset market. The date of the post does not establish when the interview took place.

Each BENJI token represents one share of the Franklin OnChain U.S. Government Money Fund (FOBXX). The fund’s transfer agent maintains the official ownership record through a blockchain-integrated system, while public blockchains handle transaction activity.

Franklin Templeton’s separate collateral program with Binance went live Feb. 11. Eligible clients can use Benji-issued money-market fund shares as collateral through Ceffu’s custody layer; that program does not establish an integration with Pendle.