Franklin Templeton Adds $150M in Fund Shares to XRPL

A Huge Addition to the XRP Ledger

Global asset management firm Franklin Templeton has significantly expanded its footprint on the XRP Ledger. On Thursday, the firm added $150 million worth of shares from its tokenized money market fund directly onto the blockchain network.

This massive injection nearly quadrupled the total number of fund tokens on XRPL. The total balance jumped from roughly 48 million shares to nearly 193 million shares in a single day.

At the recorded price of $1.039 per share, the overall value of these holdings on XRPL now stands at approximately $200 million.

Why Are All Shares Stored in One Wallet?

All 193 million shares currently sit in a single wallet on the XRP Ledger. Interestingly, the total number of individual wallets holding these fund tokens remained at just one after the transaction.

In traditional finance, brokers frequently use what is called an omnibus account. Think of it like a main vault holding assets for multiple clients in one place, while keeping individual ownership records private behind the scenes.

Franklin Templeton's fund framework maintains an internal register that links blockchain wallet addresses to real-world identities. However, it is still unclear whether this particular wallet represents a single large client or an omnibus account holding shares for many investors.

Security and Governance Rules

Security on the receiving wallet is tightly linked to the issuer. On-chain ledger analysis reveals that the holding wallet shares its authorized signers with Franklin's main issuing account.

There are eight authorized signing addresses listed in total. Under the account rules, any two of these eight keys can jointly approve a transaction.

Furthermore, holding the fund's tokens (known as sg BENJI) directly on XRPL requires permission. Franklin Templeton maintains technical controls that allow the firm to approve holders, freeze balances, or recover tokens if needed.

How the $150 Million Transfer Unfolded

The massive token addition took place across two structured steps on the blockchain ledger:

• Subscription Receipts: On Wednesday, Franklin's issuing account logged two subscription receipts on-chain. Each recorded a $75 million cash contribution with its own reference code.
• Token Distribution: Early Thursday morning, two batches of slightly over 72,184,793 shares each were minted at 02:58 and 04:13 UTC.
• Price Point: Both batches matched the receipt codes and carried the share price of $1.039.

The recorded receipts keep the specific investor identities, funding sources, and any potential link to holdings on Stellar—another blockchain used by the fund—private.

Understanding the sg BENJI Token

Each token on the network represents one share of the Singapore-domiciled Franklin On Chain U.S. Dollar Short-Term Money Market Fund.

The underlying fund invests in high-quality, short-term dollar debt instruments. These include government securities, commercial paper, and fixed bank deposits. Yields earned by the investments automatically accumulate within the share price over time.

Past performance of digital assets or financial products is not an indicator of future results. Tokenized investments are subject to market conditions, operational risks, and regulatory changes.

Ranking Real-World Assets on XRP Ledger

According to data platform RWA.xyz, Franklin Templeton holds a top spot among real-world asset issuers on the XRP Ledger:

1. RippleXRP-2.26%'s RLUSD Stablecoin: Leads the network with roughly $930 million.
2. Franklin Templeton (sg BENJI): Ranks second with approximately $193 million to $200 million depending on valuation metrics.
3. OndoONDO-4.83% Finance: Ranks third on the platform table with about $185 million.

Expanding Ecosystem with DBS and Ripple

This token movement fits into a broader institutional rollout. In November 2025, Franklin Templeton and DBS Bank announced a Singapore-authorized fund structure featuring a low $20 minimum investment.

The fund was made available to wealth and accredited clients first, with plans to expand access to retail investors in early 2026.

Back in September 2025, an agreement with Ripple enabled eligible clients on the DBS Digital Exchange to easily swap between sg BENJI tokens and the RLUSD stablecoin. DBS also revealed plans to explore lending services backed by these tokenized fund shares as collateral.