The platform’s blockchain-integrated infrastructure supports the tokenization of yield-bearing assets and distribution of proportional yield.
Global asset manager Franklin Templeton has launched the “Intraday Yield” feature for its Benji Technology Platform, a proprietary blockchain-integrated stack for the trading, management, and administration of token-based investments, officials say.
The Intraday Yield service is intended to provide “proportional calculation and distribution of yield, down to the second, when a tokenized security is transferred from one party to another,” according to the announcement. “This means an investor can own a tokenized security for part of the day, transfer it to another investor, and still earn yield for the period they were a shareholder. In addition to accounting for share transfers, the Benji Technology Platform also enables precisely calculated yield to be paid out each calendar day, including weekends and holidays.”
This “represents a significant improvement to the prevailing industry standard where share ownership is often determined, and yield is typically calculated, at the end of a trading day and distributed to investors at the end of the month,” officials add.
“We’ve been investing in and building our own blockchain-based technologies since 2017, and this is one example of how we’re bringing the real, tangible advantages of blockchains to our global client base as well as to new partners and investors,” says Roger Bayston, head of digital assets at Franklin Templeton, in a prepared statement.
Beyond the Intraday Yield, the firm has added to the Benji Technology Platform:
- A solution to allow compliant, permissioned wallet-to-wallet token transfers on supported blockchain networks; and
- Functions to allow the purchase or redemption of tokenized securities using stablecoins.
The Benji Technology Platform is used by retail and institutional investors, including corporate treasurers managing liquid reserves, venture capital firms using the platform as a programmable funding tool, and hedge fund trading desks accessing on-chain collateral that can move seamlessly across blockchain networks, officials say. The Benji Investments App is available for individual investors in the U.S. on Android and iOS. Global institutions can access the platform through the Benji Institutional web portal or through their own white label deployment.
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