Franklin Templeton adds $150 million of its tokenized money-market fund to the XRP Ledger, and all of it sits in one wallet

Franklin Templeton has put another $150 million of its tokenized money-market fund onto the XRP Ledger, and all of it is held in one wallet, CoinDesk reported on October 24 after reviewing ledger records.

The asset is sgBENJI, a tokenized share of the Franklin OnChain U.S. Dollar Short-Term Money Market Fund, which is domiciled in Singapore and holds short-term dollar debt such as government paper, commercial paper and bank deposits. On Wednesday, Franklin's issuing account recorded two subscription receipts of $75 million each. Two batches of just over 72.18 million shares followed on Thursday, at 02:58 and 04:13 UTC, each at a share price of $1.039.

That took the network's sgBENJI balance from about 48 million shares to nearly 193 million, worth about $200 million at that price. All of it sits in a single wallet, which, like the issuing account, is controlled by eight signing addresses, any two of which can approve a transaction. Holding sgBENJI directly on the ledger requires Franklin's approval, and the issuer can freeze balances and recover tokens.

Who put the money in is not public. CoinDesk asked Franklin whether the wallet is an omnibus account holding several clients' positions, how many investors funded it and whether tokens will move to separate addresses; the firm had not answered by Saturday morning in Asia. Brokers and custodians often pool client holdings in one account, CoinDesk noted.

The fund was set up with DBS, and a September 2025 agreement with Ripple let eligible DBS Digital Exchange clients switch between sgBENJI and Ripple's RLUSD stablecoin, with DBS saying it would explore lending against the tokens. RWA.xyz ranks Franklin second among tokenized asset platforms on the XRP Ledger, behind RLUSD at about $930 million, CoinDesk reported.