Franklin Templeton has integrated its BENJI tokenized money market fund with MoonPay, enabling institutional and eligible investors to access the fund via stablecoin swaps through MoonPay's platform. The partnership is described as the foundation for a broader strategic relationship between the two firms, suggesting additional product integrations are planned.
For the crypto repo desk, BENJI tokens represent one of the most established tokenized Treasury fund products in the market, issued by a regulated asset manager. Their availability via MoonPay increases distribution and potentially secondary market liquidity. Armada should formally evaluate BENJI as a collateral candidate, reviewing Franklin Templeton's fund documentation, redemption terms, and whether Fireblocks supports custody of BENJI tokens under the existing MSA.