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  "raw_markdown_url": "https://finwiki.zksc.io/fintech/franklin-templeton-stablecoin-migration.md",
  "domain": "fintech",
  "title": "Franklin Templeton FOBXX (BENJI) · Stellar 単一チェーンからマルチチェーン RWA へ · 「トークン化ファンド ≠ ステーブルコイン」のパラダイム",
  "entry_type": "wiki_entry",
  "frontmatter": {
    "title": "Franklin Templeton FOBXX (BENJI) · Stellar 単一チェーンからマルチチェーン RWA へ · 「トークン化ファンド ≠ ステーブルコイン」のパラダイム",
    "aliases": [
      "franklin-templeton-stablecoin-migration",
      "FOBXX",
      "BENJI",
      "Franklin OnChain US Government Money Fund",
      "franklin-templeton-tokenized-fund",
      "ft-onchain-multichain",
      "BENJI-multichain"
    ],
    "domain": "fintech",
    "type": null,
    "created": "2026-05-25",
    "last_updated": "2026-07-30",
    "last_tended": "2026-07-30",
    "review_by": "2026-11-25",
    "confidence": "likely",
    "tags": [
      "fintech",
      "franklin-templeton",
      "fobxx",
      "benji",
      "tokenized-fund",
      "mmf",
      "stellar",
      "ethereum",
      "multichain",
      "rwa",
      "2025-2026"
    ],
    "status": "active",
    "canonical_anchor": null,
    "related": [],
    "note": null,
    "sources": [
      "https://www.franklintempleton.com/investments/options/money-market-funds/products/29386/SINGLCLASS/franklin-on-chain-u-s-government-money-fund/FOBXX",
      "https://www.franklintempleton.com/forms-literature/download-preview/9001-P",
      "https://digitalassets.franklintempleton.com/benji/",
      "https://www.franklintempleton.com/press-releases/news-room/2026/franklin-templeton-stellar-development-foundation-mark-five-years-of-benji-the-first-u.s.-registered-tokenized-money-market-fund"
    ]
  },
  "summary": "This entry sits under fintech index. Read it with BlackRock BUIDL as another tokenized-fund structure, with Apollo ACRED as a private-credit tokenization example, and with stablecoin issuer 2025-2026 consolidation for why tokenized funds and stablecoins are increasingly recognized as distinct catego",
  "headings": [
    "Franklin Templeton FOBXX (BENJI) · Stellar 単一チェーンからマルチチェーン RWA へ · 「トークン化ファンド ≠ ステーブルコイン」のパラダイム",
    "TL;DR",
    "Wiki route",
    "Product fundamentals",
    "From Stellar launch to multi-network availability",
    "Multi-chain expansion timeline",
    "\"Tokenized fund vs stablecoin\" — the regulatory distinction this product defined",
    "Yield distribution mechanics",
    "Adoption snapshot",
    "Strategic context"
  ],
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      "fintech/apollo-acred-private-credit-tokenization",
      "fintech/blackrock-buidl-sc-issuer-adoption",
      "fintech/blackrock-buidl-tokenized-mmf-overview",
      "fintech/cbbtc-institutional-btc-wrapper",
      "fintech/first-digital-fdusd-hk-stablecoin",
      "fintech/frax-frxusd-defi-stablecoin",
      "fintech/global-stablecoin-regulatory-five-pole-matrix",
      "fintech/institutional-stablecoin-deposit-token-thesis",
      "fintech/jpmorgan-jpmd-coin",
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      "fintech/ondo-finance-rusdy-adoption",
      "fintech/paypal-pyusd-stablecoin",
      "fintech/protocol-hedge-strategy-stripe-pattern",
      "fintech/ripple-rlusd-stablecoin",
      "fintech/sky-usds-decentralized-stablecoin",
      "fintech/stablecoin-issuer-2025-2026-market-consolidation",
      "fintech/tether-business-model-short-treasury-yield",
      "fintech/three-circles-stablecoin-mra-framework",
      "fintech/world-liberty-usd1-political-stablecoin"
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    "resolved_wikilinks": [
      "https://finwiki.zksc.io/ja/business/larry-fink-blackrock-digital-asset-template/",
      "https://finwiki.zksc.io/ja/business/paolo-ardoino-tether-business-model-template/",
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      "https://finwiki.zksc.io/ja/fintech/blackrock-buidl-sc-issuer-adoption/",
      "https://finwiki.zksc.io/ja/fintech/blackrock-buidl-tokenized-mmf-overview/",
      "https://finwiki.zksc.io/ja/fintech/cbbtc-institutional-btc-wrapper/",
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      "https://finwiki.zksc.io/ja/fintech/m-network-m0-neutral-infrastructure/",
      "https://finwiki.zksc.io/ja/fintech/onchain-finance-vs-crypto-bifurcation/",
      "https://finwiki.zksc.io/ja/fintech/ondo-finance-rusdy-adoption/",
      "https://finwiki.zksc.io/ja/fintech/paypal-pyusd-stablecoin/",
      "https://finwiki.zksc.io/ja/fintech/protocol-hedge-strategy-stripe-pattern/",
      "https://finwiki.zksc.io/ja/fintech/ripple-rlusd-stablecoin/",
      "https://finwiki.zksc.io/ja/fintech/sky-usds-decentralized-stablecoin/",
      "https://finwiki.zksc.io/ja/fintech/stablecoin-issuer-2025-2026-market-consolidation/",
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      "https://finwiki.zksc.io/ja/fintech/three-circles-stablecoin-mra-framework/",
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    "external_links_count": 4,
    "external_links": [
      "https://digitalassets.franklintempleton.com/benji/",
      "https://www.franklintempleton.com/forms-literature/download-preview/9001-P",
      "https://www.franklintempleton.com/investments/options/money-market-funds/products/29386/SINGLCLASS/franklin-on-chain-u-s-government-money-fund/FOBXX",
      "https://www.franklintempleton.com/press-releases/news-room/2026/franklin-templeton-stellar-development-foundation-mark-five-years-of-benji-the-first-u.s.-registered-tokenized-money-market-fund"
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