Franklin Templeton adds $150 million in fund shares to XRP Ledger, all in one wallet
Franklin Templeton added $150 million in shares of its tokenized money market fund to the XRP Ledger, bringing the network's total to nearly 193 million shares worth about $200 million.
The addition came in two batches of just over 72 million shares each, recorded at 02:58 and 04:13 UTC Thursday. Each batch was linked to a $75 million cash subscription receipt, bringing the total investment to $150 million. The transactions increased the sgBENJI shares on the XRP Ledger from about 48 million to nearly 193 million.
All sgBENJI shares on the XRP Ledger remain in a single wallet that shares transaction signers with Franklin's issuing account. According to CoinDesk's review of ledger records, any two of the eight identical signing addresses can jointly approve a transaction. At the $1.039 share price recorded, the holdings are worth approximately $200 million.
Fund Details
Each sgBENJI token represents a share of the Singapore-domiciled Franklin OnChain U.S. Dollar Short-Term Money Market Fund. The fund invests in short-term dollar debt and money-market instruments, including government paper, commercial paper, and bank deposits. Returns accumulate in the share price rather than being distributed separately.
RWA.xyz ranks Franklin second in its XRP Ledger table of tokenized asset platforms, behind Ripple's RLUSD stablecoin at about $930 million and ahead of Ondo at $185 million. Franklin and DBS announced the fund's Singapore-authorized structure in November 2025 with a $20 minimum investment.
Single Wallet Mystery
The concentration of all shares in one wallet raises questions about whether it represents one investor or multiple clients. Brokers and custodians routinely hold shares for many clients in one account, tracking individual ownership separately. Franklin's fund documents describe a register combining blockchain entries with off-chain records that link wallet addresses to real-world identities.
Whether this particular wallet represents one investor or several remains unclear.
CoinDesk asked Franklin whether it is an omnibus account, how many investors funded the subscriptions, and whether they or their custodians will receive tokens in separate addresses. The firm had not responded as of Asia morning hours on Saturday. The wallet's settings also allow Franklin to freeze balances and recover tokens if needed.
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