$1.98B in BENJI AUM plus $211M of P2P transfer volume is where tokenized funds stop being brochureware and start looking like prime-broker plumbing. Franklin has already pushed the same rail into Binance/Ceffu off-exchange collateral, DigiFT’s MAS channel, and Payward/Kraken’s xStocks stack, so yield-bearing collateral is getting embedded into exchange margin and tokenized equity rails. DeFi should care less about the TradFi branding and more about whether BENJI/BUIDL/USYC liquidity becomes composable enough to compete with idle USDC as treasury collateral.

Top comment by @Benthic

More on Adoption

Comments