---
title: "Franklin OnChain U.S. Government Money Fund (BENJI) Stablecoin Analytics"
canonical: "https://pharos.watch/stablecoin/benji-franklin-templeton/"
description: "Build-time stablecoin profile for Franklin OnChain U.S. Government Money Fund (BENJI). Live price, supply, peg, liquidity, and flow data are served by the Pharos API."
dateModified: "2026-05-15"
---



# Franklin OnChain U.S. Government Money Fund (BENJI)

**Peg:** US Dollar

**Backing:** Real-World Asset Backed

**Governance:** Centralized (CeFi)

**Status:** active

## Overview

BENJI is the on-chain share token for Franklin Templeton's FOBXX, an SEC-registered U.S. government {{term:money-market-fund}}money market fund{{/term}} with a stable $1.00 NAV. BENJI is Franklin Templeton's tokenised share class of FOBXX, the Franklin OnChain U.S. Government Money Fund — a Securities Act of 1933 and Investment Company Act of 1940 registered money market fund custodied at BNY Mellon. The token holds a stable $1.00 NAV; yield is distributed by rebasing the holder's share count on-chain rather than letting the price drift, which makes BENJI behave like a par-redeemable dollar even though it is legally a fund share. With roughly $2 billion in assets across Stellar (primary), Polygon, Arbitrum, Avalanche, Aptos, Base, Solana, BNB Chain, Canton, and Ethereum, it is the largest tokenised '40 Act {{term:money-market-fund}}MMF{{/term}} in market. Pharos currently tracks the Ethereum supply contract and runs reserves on a curated weekly snapshot of the official Franklin Templeton factsheet pending per-chain verification and oracle availability.

## Collateral

U.S. government securities, cash, and repurchase agreements held by the Franklin OnChain U.S. Government Money Fund (FOBXX); '40 Act-registered money market fund custodied by BNY Mellon with Franklin Templeton as transfer agent and Benji as the on-chain share record

## Peg Mechanism

Single fund, multi-chain BENJI token tracking FOBXX's stable $1.00 NAV; rebasing share count records distributed yield directly on-chain; subscriptions and redemptions are gated to KYC-verified Benji wallets with USD-wire and Benji-to-USDC settlement paths

## Jurisdiction

| Country | Regulator | License |
| --- | --- | --- |
| United States | SEC | Investment Company Act of 1940 (registered money market fund) |

## Contracts

| Chain | Address | Decimals |
| --- | --- | --- |
| aptos | `0x4705f33d665762a5371d3b8786e63749814e749295ea73269b379c84b756d83a` | 9 |
| arbitrum | `0xb9e4765bce2609bc1949592059b17ea72fee6c6a` | 18 |
| avalanche | `0xe08b4c1005603427420e64252a8b120cace4d122` | 18 |
| base | `0x60cfc2b186a4cf647486e42c42b11cc6d571d1e4` | 18 |
| ethereum | `0x3ddc84940ab509c11b20b76b466933f40b750dc9` | 18 |
| polygon | `0x408a634b8a8f0de729b48574a3a7ec3fe820b00a` | 18 |
| solana | `5Tu84fKBpe9vfXeotjvfvWdWbAjy3hqsExvuHgFqFxA1` | 9 |
| stellar | `BENJI-GBHNGLLIE3KWGKCHIKMHJ5HVZHYIK7WTBE4QF5PLAKL4CJGSEU7HZIW5` | 7 |

## Live Data

Real-time price, supply, peg score, liquidity, and flow data live at https://api.pharos.watch/api/stablecoin/benji-franklin-templeton.