On August 5, BounceBit integrated Franklin Templeton's tokenized money market fund BENJI into the BB Prime platform, creatively combining the yields of U.S. treasury bonds with decentralized financial capabilities.
This collaboration marks an important milestone in CeDeFi, aiming to attract both traditional investors and cryptocurrency enthusiasts by providing financial products that combine real asset tokenization.
Franklin Templeton: A pioneer in the field of managed crypto assets
Industry observers and analysts have noted the importance of actively integrating RWA, viewing it as an essential trend for the sustainable growth of DeFi. Specific statements from key leaders in participating organizations have affirmed their commitment to advancing digital assets.
This integration reflects a strategic move towards merging CeFi and DeFi. It promises the potential to increase Total Value Locked (TVL) and stablecoins, while also bringing new opportunities for investors. The involvement of institutions is enhanced, further connecting traditional and decentralized finance through this novel integration.
"This is the first real-world application of tokenized treasury bonds in an active income strategy." – Jack Lu, CEO, BounceBit
Historical context, price data, and expert insights
Did you know? Franklin Templeton was the first to tokenize a U.S. money market fund in 2021, paving the way for integrating managed real asset yields into the DeFi ecosystem.
According to CoinMarketCap, Basenji (BENJI) is currently priced at $0.02. The market capitalization reached $16.51 million, with a circulating and maximum supply of one billion tokens. The 24-hour trading volume stood at $5.91 million, recording a price decrease of 3.24%. The past week saw a decrease of 10.51%, while the last three months recorded an increase of 3.33%.
Experts believe this collaboration is evidence of the growing trend of integrating tokenized financial instruments into the DeFi landscape. This integration marks another step in the development of cryptocurrency-based income strategies, reflecting investor interest in combining security with innovative market mechanisms.
