Franklin Templeton adds $150 million to tokenized fund on XRP Ledger in single wallet

Franklin Templeton’s tokenized money market fund now ranks second among tokenized asset platforms on the XRP Ledger, yet every token sits in one wallet. For BlockWest readers tracking real-world assets, who controls and owns that wallet bears on how the headline balance should be read.

• Franklin added about $150 million of sgBENJI shares, taking its XRP Ledger total to nearly 193 million.
• Eight signing addresses authorize both the wallet and Franklin’s issuing account, and any two can approve a transaction.
• Franklin has not said whether the wallet is an omnibus account or how many investors funded the subscriptions.

• $150M added in subscriptions, split across two $75 million receipts
• 193M sgBENJI shares now in one wallet, up from about 48 million
• $930M RLUSD value on XRP Ledger, ahead of Franklin’s roughly $200 million
• $185M Ondo’s XRP Ledger tokenized assets, just below Franklin’s position

Franklin Templeton added about $150 million of shares in its tokenized money market fund to the XRP Ledger, CoinDesk reported, and every new token went to a single wallet. That wallet now holds the fund’s entire balance on the network, nearly 193 million sgBENJI shares, up from about 48 million before Thursday (October 22). At the $1.039 share price recorded in the transactions, the position is worth about $200 million.

Franklin had not responded to CoinDesk’s questions about the wallet as of Saturday (October 24) in Asia morning hours. That leaves the investors behind the subscriptions unidentified.

A single wallet holds all 193 million sgBENJI shares on XRP Ledger

On Wednesday (October 21), Franklin’s issuing account wrote two subscription receipts onto the ledger. Each recorded a $75 million cash subscription and carried its own reference code. Together they match the $150 million added to the network.

Two batches of just over 72,184,793 shares followed at 02:58 and 04:13 UTC on Thursday (October 22). Each carried a matching receipt code and the $1.039 share price. The transactions nearly quadrupled the sgBENJI share count on the ledger, while the number of wallets holding any stayed at one.

RWA.xyz ranks Franklin second in its XRP Ledger table of tokenized asset platforms. Ripple’s RLUSD stablecoin leads at about $930 million, ahead of Franklin at roughly $200 million and ahead of Ondo at $185 million. The site lists Franklin’s position at about $193 million, matching the share count at a dollar each, while Thursday’s recorded share price puts it nearly $8 million higher.

Eight shared signing addresses tie the wallet to Franklin’s issuing account

The wallet and Franklin’s issuing account authorize the identical eight signing addresses, and any two can jointly approve a transaction, according to CoinDesk’s review of ledger records. Whether the wallet represents one investor or several remains unclear.

Holding sgBENJI directly on the XRP Ledger requires Franklin’s approval. The token’s settings also allow the issuer to freeze balances and recover tokens.

Each 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.

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