Franklin Templeton adds $150 million in fund shares to XRP Ledger, all in one wallet

Franklin Templeton has been moving parts of its tokenized money market fund onto public blockchains as part of a broader push around onchain fund shares. XRP Ledger is the network named here, and the fund involved is sgBENJI, which is the tokenized version of Franklin Templeton’s money market product. The two October subscriptions and October 22 issuances place this in a specific operational window rather than a one-off transfer.

For holders and builders using XRP Ledger, the relevant point is that a large fund position was added in a single wallet arrangement rather than scattered across many addresses. That makes the fund’s onchain footprint more concentrated and easier to track, while also showing that a traditional asset manager can run tokenized share issuance directly on a public chain. Anyone integrating with the asset now has to account for a larger balance sitting on XRPL and for the wallet structure tied to the issuer.

The larger issue is the meeting point between regulated fund plumbing and blockchain rails. Tokenized money market funds can improve transferability and visibility, but they also keep a conventional issuer in control of issuance and wallet authorization, which limits how decentralized the setup is. XRP Ledger is being used here as infrastructure for a familiar financial product, not as a replacement for the fund’s underlying management or oversight.

Still open is how far Franklin Templeton plans to extend this distribution and whether more subscriptions will continue to land on XRP Ledger in the same pattern. The filings here give the subscription amounts, the issuance times, and the wallet relationship, but they do not spell out any broader rollout plan. The next useful marker would be whether additional onchain fund shares are issued in later batches or on other networks.