Franklin Templeton injected $150 million worth of tokenized money market fund shares into the XRP Ledger on Thursday, October 23, 2026. This capital influx arrived through two simultaneous subscription transactions, multiplying the fund’s token supply on the public ledger.
All new shares were routed directly into a single wallet. The holding address now controls nearly 193 million sgBENJI shares, up sharply from its previous balance of around 48 million. In the issuance transaction, the price per share was recorded at $1.039. At that price benchmark, the single wallet’s total holdings now stand at approximately $200 million.
Behind the concentration of ownership gathered in a single point, the technical architecture reveals an integrated institutional custodial arrangement.
Joint Control by Eight Signers
The connection between the issuer and the recipient is tied directly at the protocol level. The recipient wallet and Franklin Templeton’s issuer account share eight identical signer addresses. On the XRPL network, joint approval from any two signers is sufficient to process outgoing transactions on the ledger.
XRPL network rules grant Franklin Templeton full authority to freeze balances or recover tokens if required under regulatory compliance. Such arrangements ensure that traditional asset issuance on a public chain continues to satisfy capital market legal requirements.
Each sgBENJI token represents one share of the Singapore-based Franklin OnChain U.S. Dollar Short-Term Money Market Fund. The fund’s portfolio allocates investments to short-term U.S. dollar debt instruments, such as government securities, commercial paper, and bank deposits.
Singapore Structure and XRPL Ecosystem Standing
Franklin Templeton structured the Singapore-registered fund in collaboration with DBS Bank starting in November 2025. The investment scheme establishes a $20 minimum per investor and integrates with plans for direct swaps between sgBENJI tokens and the RLUSD stablecoin on the DBS Digital Exchange.
The $150 million capital addition reshapes the competitive landscape for real-world assets on the XRPL network. Franklin Templeton now ranks as the second-largest tokenized asset platform on the XRP Ledger, according to data from RWA.xyz. Its position surpasses third-ranked Ondo at $185 million, while trailing Ripple’s RLUSD stablecoin, valued at around $930 million.
Franklin Templeton’s money market fund expansion on XRPL illustrates the integration of institutional banking with public ledgers: hundreds of millions of dollars in assets can be centralized in a single custodian account, while compliance controls and freeze rights remain with the investment manager.
Reported via CoinDesk.
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Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
