Franklin Templeton is integrating its BENJI tokenized money market fund and other tokenized products into MoonPay Trade.
The partnership will enable institutional users to seamlessly swap between stablecoins like USDC and USDT and Franklin Templeton’s tokenized money market fund using MoonPay’s recently launched onchain trading infrastructure.
The partnership is "expected to serve as the foundation for a broader strategic relationship between Franklin Templeton and MoonPay," a statement on Tuesday said.
MoonPay noted the move also represents a significant expansion beyond "crypto, fiat, and stablecoins" for the firm and as one of MoonPay Institutional CEO Caroline Pham's "first major moves" since joining the firm after serving as the former acting Commodity Futures Trading Commission chair.
"Tokenized money market funds only become more useful when they can move with the speed and programmability of the broader digital asset ecosystem," Franklin Templeton Head of Innovation & Digital Assets Sandy Kaul said. "For us, leadership in this space means doing the work to make that unlock possible, and teaming up with MoonPay creates another trusted gateway for institutions to move between stablecoin liquidity and tokenized fund exposure."
