Franklin Templeton Adds $150M in Fund Shares to XRP Ledger, Taking Its Position to About $200M
Published October 24, 2026, 1:50 PM PKT. Based on CoinDesk reporting on October 24, 2026, including its review of XRP Ledger records (primary source), and reporting by KuCoin, CoinGape, TradersUnion and Lookonchain (secondary sources).
Franklin Templeton added $150 million worth of shares in its tokenized money market fund to the XRP Ledger, with every new share going to a single wallet that now holds the fund's entire token balance on the network, according to CoinDesk's review of ledger records on October 24, 2026. The wallet holds nearly 193 million sgBENJI shares, up from about 48 million before Thursday, and at the $1.039 share price recorded in the transactions, that balance is worth about $200 million. The move nearly quadruples Franklin Templeton's tokenized fund position on the XRP Ledger in a single week of ledger activity, and it makes the asset manager the second largest tokenized asset platform on the network, behind only Ripple's RLUSD stablecoin, according to data from RWA.xyz cited by CoinDesk.
Two $75 million subscriptions, one wallet
The ledger trail runs in two matched steps. On Wednesday, Franklin Templeton's issuing account wrote two subscription receipts onto the ledger, each recording a $75 million cash subscription and carrying its own reference code, according to CoinDesk. Two batches of just over 72,184,793 shares followed on Thursday, at 02:58 and 04:13 UTC, each carrying the matching receipt code and a $1.039 share price, according to CoinDesk. Each sgBENJI token represents one 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, including government paper, commercial paper and bank deposits, according to CoinDesk, with investment returns accumulating in the share price rather than being paid out. The receipts do not identify the investors, the funding source, or any connection to the fund's existing holdings on Stellar, the other blockchain the fund uses, according to CoinDesk.
Second on the XRP Ledger's tokenized asset table
RWA.xyz ranks Franklin Templeton second in its XRP Ledger table of tokenized asset platforms, behind Ripple's RLUSD stablecoin at about $930 million and ahead of Ondo at $185 million, according to CoinDesk. RWA.xyz lists Franklin Templeton's XRP Ledger position at about $193 million, matching the share count at a dollar each, while Thursday's recorded share price of $1.039 puts its value nearly $8 million higher, according to CoinDesk. The gap between the two valuations is a pricing convention, not a discrepancy in the share count: the ledger records 193 million shares, and the dollar value depends on whether each share is counted at $1 or at the $1.039 transaction price. The scale of the jump is what stands out either way. Before Thursday, Franklin Templeton held roughly 48 million shares on the XRP Ledger, according to CoinDesk, so the two $75 million subscriptions roughly quadrupled the position in one stroke.
What the single-wallet structure does and does not reveal
The receiving wallet and Franklin Templeton's issuing account authorize the identical eight signing addresses, and any two of those addresses can jointly approve a transaction, according to CoinDesk's review of ledger records. Direct ownership of sgBENJI on the XRP Ledger requires approval from Franklin Templeton, and the issuer's settings also permit it to freeze balances and recover tokens, according to KuCoin's account of the same ledger records. That design is typical of regulated tokenized fund structures, where issuers use multi-signature accounts to enforce compliance controls while keeping assets on a public ledger, according to CoinGape. What the structure does not reveal is who the end investor is. Franklin Templeton has not clarified whether the wallet is an omnibus account holding multiple clients or a single large allocation, according to CoinGape, and the subscription receipts leave the investors and the funding source undisclosed, according to CoinDesk. The move extends a push onto the XRP Ledger that includes a partnership with DBS announced in September 2025, which let DBS Digital Exchange clients swap between sgBENJI and RLUSD and explore using the fund tokens as collateral, according to CoinGape.
This article is news reporting and is not investment advice.
Sources
- CoinDesk, Franklin Templeton adds $150 million in fund shares to XRP Ledger, all in one wallet (October 24, 2026), primary source
- KuCoin, Franklin Templeton Adds $150M in Tokenized Fund Shares to XRP Ledger (October 24, 2026), secondary source
- CoinGape, Franklin Templeton Adds $150M in sgBENJI Shares to XRP Ledger (October 24, 2026), secondary source
- TradersUnion, Franklin Templeton expands XRP Ledger fund shares as tokenized holdings near $200 million (October 24, 2026), secondary source
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