- Franklin Templeton added $150 million worth of sgBENJI shares to the XRP Ledger. This move nearly quadrupled their existing holdings.
- Now the asset manager’s total sgBENJI balance on XRPL is to 193 million shares. That’s valued at around $200 million, based on the share price.
- All the sgBENJI shares on XRPL are stored in a wallet. That wallet shares eight signers, with Franklin Templeton’s issuing account.
Franklin Templeton has added approximately $150 million in tokenized money market fund shares to the XRP Ledger (XRPL), nearly quadrupling its sgBENJI holdings on the network. However, all the newly issued shares went to a single wallet, raising questions about investor ownership and custody.
$150M Inflow Pushes sgBENJI Holdings To $200M
On‑chain records show that Franklin Templeton received two cash subscription receipts of $75 million each on Wednesday and then issued two share lots on Thursday. Each transaction gave over 72.18 million sgBENJI shares at a price of $1.039 per share.
.@FTDA_US just added $150M in fund shares to the @XRPLF Ledger.
All of it sits in one wallet. https://t.co/BGMDC9IKPu
— RWA Foundation (@RWAFoundation_) October 24, 2026
The fund’s XRPL balance grew from about 48 million shares to 193 million shares. Using the share price the total position is valued at about $200 million.
Each sgBENJI token is a share of the Singapore‑domiciled Franklin OnChain U.S. Dollar Short‑Term Money Market Fund. The fund puts money into short‑term debt that is priced in dollars well as money market tools such as government securities, commercial paper, and bank deposits. Returns come from changes in the share price.
One Wallet Controls The Entire XRPL Position
All sgBENJI shares on XRPL are held in a single wallet that shares the same eight authorized signing addresses as Franklin Templeton’s issuing account. Any two signers can jointly approve a transaction.
This arrangement does not necessarily mean the entire position belongs to one investor. Brokers and custodians often consolidate assets for multiple clients in omnibus accounts while maintaining separate ownership records.
Franklin’s fund documents describe a registration process that connects blockchain wallet entries with real-world investor identities through off-chain records. However, the company has not clarified whether this wallet represents one investor or multiple clients. It had not responded to CoinDesk’s questions as of Saturday morning in Asia.
The issuer also retains controls that allow it to freeze balances and recover tokens, while direct holdings of sgBENJI on XRPL require Franklin’s approval.
Stay informed with the latest trends in Web3, blockchain innovation, and cybersecurity updates at 3verseTV
You need to login in order to Like
Leave a comment