Cap, a credit platform backed by financial guarantees, today announced it has been onboarded as a BENJI client and will be able to service Franklin Templeton’s tokenized money market fund as a supported deposit asset. The approval is the first step toward enabling BENJI holders to access Cap’s infrastructure.
BENJI is the longest-running tokenized money market fund in its category, having launched in 2021. As of June 24, 2026, the broader BENJI suite sits on top of $2.5 billion in onchain assets under management.
As a permissioned asset, every BENJI integration must be approved by Franklin Templeton Digital Assets directly. To reach this milestone, Cap cleared Franklin Templeton’s full compliance review to become a BENJI wallet holder — a high bar for digital asset platforms and a signal of institutional confidence in Cap’s system.
Franklin Templeton Digital Assets has been building digital asset infrastructure since 2018 and led Cap’s seed round in 2025. The two firms intend to continue collaborating to bridge traditional finance and decentralized finance.
“Clearing Franklin Templeton’s compliance review and supporting BENJI as a deposit asset reflects exactly the kind of institutional rigor Cap was built for. We’re proud to deepen our work with a partner that has been investing in this infrastructure since the earliest days,” said Benjamin, Founder and CEO of Cap.
About Cap
Cap is a private credit platform that uses blockchain technology to address the core problems facing legacy private credit systems. Cap’s novel automated credit marketplace ensures every loan is backed by onchain principal protection. Each loan has a dedicated underwriter who puts their own capital behind the decision, making honest underwriting the dominant strategy. Dollar depositors then earn a secured yield that’s insured by underwriters. This innovative approach to private credit mitigates the issues of scalability, incentive alignment, fraud, and illiquidity facing traditional markets. Cap’s investors include Franklin Templeton, Susquehanna, IMC Trading, and other legacy financial institutions. Today, the platform has $4B+ in cumulative volume, over $350M in deposits, and 5–7% annualized yield on dollar deposits.
About BENJI / Franklin Templeton Digital Assets
BENJI is Franklin Templeton’s tokenized money market fund, launched in 2021 and the longest-running fund in its category, with over $800 million held onchain. Franklin Templeton has been building digital asset infrastructure since 2018.
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