Stellar
Polygon
Arbitrum
Base
FOBXX (BENJI tokens) is a 1940 Act government money market fund investing in US government securities, cash and repos. One BENJI equals one fund share at a stable $1.00 NAV. The fund's transfer agent maintains the official share register on Stellar with support extended across Polygon, Arbitrum, Base, Avalanche, Aptos and Ethereum.
The first US-registered mutual fund with its share register on a public blockchain.
Prism analyst note
BENJI is the most regulator-blessed asset in the category: a genuine SEC-registered money market fund whose official share register lives on-chain, accessible to US retail from $20. That regulatory pedigree comes with platform confinement: liquidity exists within the Benji ecosystem rather than on open DEXs. As rate cuts continue, its 7-day yield tracks government MMF averages. The strongest choice for compliance-sensitive allocators who value 1940 Act protections over composability.
Generated from issuer disclosures and reviewed against the sources listed below. Not investment advice.
Structure & compliance
- Underlying
- US government securities, cash, repurchase agreements
- Legal structure
- SEC-registered 1940 Act government money market fund
- Jurisdiction
- United States
- Custodian
- The Bank of New York Mellon
- Administrator
- Franklin Templeton (transfer agent on-chain)
- Oracle / NAV source
- Fund transfer agent (official register)
- Reserve information
- 99.5%+ in government securities per Rule 2a-7; daily stable $1.00 NAV; yield accrues daily and is distributed as additional shares.
- Transfer restrictions
- Peer-to-peer transfers supported between verified Benji accounts; onboarding via Benji platform KYC.
- Investor eligibility
- Retail investors (KYC)
- KYC required
- Yes
Reserve verification
Contracts & on-chain data
AvalancheDocuments & disclosures
Frequently asked
Is BENJI available to US retail investors?+
Yes: via the Benji app with standard KYC, from a $20 minimum.
Which chain is authoritative?+
The transfer agent's on-chain register (Stellar primary) is the official record of share ownership.
Ethereum
Aptos