Franklin Templeton Bolsters XRP Ledger with $150 Million Tokenized Fund Infusion

Franklin Templeton, a venerable name in traditional asset management, has expanded its involvement in the blockchain space, specifically using the XRP Ledger, with a substantial addition to its tokenized money market fund. The firm recently infused an impressive $150 million in shares of its Franklin OnChain U.S. Dollar short term Money Market Fund, known by its token ticker sgBENJI, onto the XRP Ledger. This move dramatically expanded its digital holdings, quadrupling the total value of its tokenized fund assets on the network. The recent transactions have propelled the total holdings of sgBENJI on the XRP Ledger to nearly 193 million shares, which, at the recorded share price of $1.039, are collectively valued at approximately $200 million.

These two batches of shares, each comprising just over 72,184,793 units, were logged at different times on Thursday morning UTC, each carrying a matching reference code to the initial cash subscriptions. The entire newly added sum, along with pre-existing holdings, currently resides within a singular wallet address on the XRP Ledger. The consolidation of assets within a single digital wallet has prompted questions and speculation about the operational models traditional financial institutions adopt when entering the decentralized ledger technology (DLT) ecosystem.

The sgBENJI fund itself is a Singapore-domiciled money market fund that provides investors with exposure to short term dollar debt and other money-market instruments. These investments typically include government paper, commercial paper, and bank deposits, known for their stability and liquidity. The tokenized nature of sgBENJI means that each token directly represents a share in this underlying fund, with returns accumulating directly into the share price. This innovative approach allows investors to access a traditional financial product in a modern, blockchain-native format, potentially offering enhanced transparency and efficiency through distributed ledger technology.

The fact that all sgBENJI shares on the XRP Ledger are concentrated in a single wallet draws attention. This particular wallet shares identical authorized signers with Franklin Templeton’s primary issuing account. A review of the ledger records indicates that eight specific signing addresses are associated with both the recipient wallet and the issuer, with any two of these addresses having the joint authority to approve transactions. While common in traditional finance for brokers and custodians to hold client assets in omnibus accounts – where shares for multiple clients are aggregated into one master account, with individual ownership tracked separately off-chain – it remains unclear whether this specific wallet functions in such a capacity for Franklin Templeton. CoinDesk, a prominent crypto news outlet, sought clarification from Franklin Templeton regarding whether this was indeed an omnibus account, the number of investors involved in the subscriptions, and if clients would receive tokens in separate addresses. As of Asia morning hours on Saturday, the firm had not provided a response, leaving the question of the wallet’s precise representation open.

This development underscores the growing trend of Real-World Asset (RWA) tokenization, where tangible and intangible assets from traditional finance are brought onto blockchain networks. The XRP Ledger, developed by Ripple, has been actively positioning itself as a primary platform for this growing sector. RWA.xyz, an analytics platform tracking tokenized assets, currently places Franklin Templeton’s XRP Ledger position, post-transaction, at approximately $193 million. This substantial figure positions Franklin Templeton as the second-largest tokenized asset platform on the XRP Ledger, an impressive achievement. It trails only Ripple’s own RLUSD stablecoin, which boasts holdings of about $930 million, but significantly surpasses other platforms like Ondo, which holds around $185 million. This ranking highlights the rapid adoption and growing confidence institutional players are placing in the XRP Ledger for high-value asset tokenization.

The architecture governing sgBENJI on the XRP Ledger grants Franklin Templeton significant control, a feature essential for maintaining regulatory compliance and investor confidence for a regulated financial product. The firm has the explicit capability to approve, freeze, and even recover tokens held on the ledger. Additionally, holding sgBENJI directly on the XRP Ledger requires explicit approval from Franklin Templeton. These controls are reminiscent of permissions found in traditional financial systems, demonstrating DLT's adaptation to meet the stringent requirements of established financial entities.

Franklin Templeton’s entry into the digital asset space with sgBENJI is not a sudden one; it is built upon a foundation of strategic partnerships and forward-thinking initiatives. The fund’s Singapore-authorized structure was first publicly announced in November 2025, in collaboration with DBS, a leading financial services group in Asia. At its inception, the fund was structured with an accessible minimum investment of $20, aiming to make money market investments more accessible. Initially, sgBENJI was made available to wealth and accredited clients, with broader retail access anticipated to roll out in early 2026. This phased approach to market entry is typical for regulated financial products entering new technological frontiers, to confirm a controlled and compliant expansion.

A significant element of this strategy was a pivotal agreement signed in September 2025 between Franklin Templeton, Ripple, and DBS. This agreement outlined ambitious plans for eligible clients of the DBS Digital Exchange to easily switch between sgBENJI and Ripple’s own RLUSD stablecoin. Such interoperability between different tokenized assets on the same ledger could significantly enhance liquidity and utility for investors within the DBS ecosystem. Also, DBS indicated its intention to explore potential lending opportunities collateralized by these fund tokens, further integrating them into a full suite of digital financial services. This collaboration signifies a concerted effort by major financial players to build a robust, interconnected digital asset ecosystem that connects traditional and decentralized finance.

The latest $150 million injection into the XRP Ledger signifies not just a quantitative increase in assets but also a qualitative endorsement of the platform’s capabilities for institutional-grade RWA tokenization. It represents a continued commitment from a major asset manager to explore and expand the utility of blockchain technology beyond speculative digital currencies. As more traditional financial products find their way onto public ledgers, the potential for increased transparency, reduced settlement times, and broader investor access grows. This careful balance between decentralization and control is essential for fostering trust and driving widespread adoption of tokenized assets.

The evolution of tokenized real-world assets like sgBENJI suggests a transformative future for global finance. Such initiatives enable greater capital efficiency and create new avenues for investment, making traditionally illiquid assets more accessible. While the specific details regarding the singular wallet holding Franklin Templeton’s sgBENJI on the XRP Ledger await further clarification, the broader implication is clear: institutional finance is increasingly recognizing the tangible benefits of blockchain for asset management and distribution. This move by Franklin Templeton not only solidifies its own position as an innovator in the digital asset space but also reinforces the XRP Ledger’s stature as a formidable platform for the next generation of financial products. The ongoing convergence of traditional financial infrastructure with cutting-edge blockchain technology promises to reshape how value is created, managed, and exchanged globally, with initiatives like sgBENJI leading the charge. This event serves as a powerful indicator of the accelerating momentum towards a more tokenized financial landscape, where the efficiencies and global reach of distributed ledgers are harnessed to create new opportunities for investors worldwide.

Source: CoinDesk — https://www.coindesk.com/markets/2026/10/24/franklin-templeton-adds-usd150-million-in-fund-shares-to-xrp-ledger-all-in-one-wallet