Franklin Templeton has significantly expanded its presence on the XRP Ledger by adding $150 million worth of shares in its tokenized money market fund. The entire new allocation went into a single wallet, which now holds the fund’s complete token balance on the network. This wallet and Franklin’s issuing account share the same eight signing addresses, requiring any two to jointly approve transactions.
The wallet currently holds nearly 193 million sgBENJI shares, up from about 48 million before Thursday. At the recorded share price of $1.039, the total value is approximately $200 million. Franklin Templeton ranks second on RWA.xyz’s list of tokenized asset platforms on the XRP Ledger, behind Ripple’s RLUSD stablecoin and ahead of Ondo.
Each token represents a share of the Singapore-domiciled Franklin OnChain U.S. Dollar Short-Term Money Market Fund, which invests in short-term dollar debt and money-market instruments. On Wednesday, Franklin’s issuing account recorded two subscription receipts, each for $75 million in cash subscriptions. Two batches of shares followed on Thursday, each priced at $1.039 per share.
The identity of the investors and the funding source remain undisclosed. Franklin’s fund documents mention a register that combines blockchain entries with external records, linking wallet addresses to real-world identities. However, it remains unclear whether the wallet represents one investor or multiple.