Franklin Templeton Adds $150 Million of sgBENJI to XRP Ledger
Franklin’s money market fund is growing on the XRP Ledger, where sgBENJI is now playing a bigger role in tokenized assets alongside Ripple’s RLUSD and Ondo.
Key Takeaways
- Franklin Templeton added $150 million (€134 million) of sgBENJI tokens to the XRP Ledger on Friday.
- All new tokens went to one wallet, which now holds the fund’s entire token supply on the network.
- This means the XRP Ledger is being used not just for payments, but also for tokenized investment products.
Franklin Templeton added $150 million (€134 million) worth of shares in its tokenized money market fund on Friday to the XRP Ledger. All new tokens went to one wallet, which now holds the fund’s entire token supply on the network.
One Wallet, Eight Signatures
That wallet and Franklin’s issuing account use the same eight authorized signers. According to a review of the ledger records, any two of those eight can approve a transaction together. That makes the setup look like one address, while the control behind it can be broader.
The wallet now holds nearly 193 million sgBENJI shares, up from about 48 million before Thursday. At the $1.039 (€928) price recorded in the transactions, that works out to about $200 million (€179 million). RWA.xyz puts Franklin in second place in its XRP Ledger overview of tokenized asset platforms, behind Ripple’s RLUSD stablecoin and ahead of Ondo.
What sgBENJI Actually Is
Each token represents a share in Franklin OnChain U.S. Dollar Short-Term Money Market Fund in Singapore. That fund invests in short-term dollar loans and money market instruments, including government debt, commercial paper, and bank deposits. Returns build up in the token’s price.
The growth fits into a broader trend where traditional financial products are being moved onto blockchain networks. According to market data, tokenized U.S. money market and Treasury funds stood at $14.2 billion (€12.7 billion) in on-chain assets under management in June 2026, many times higher than two years earlier. For professional investors, products like this make blockchain use more concrete than just payments or stablecoins.
Why This Matters
For European crypto readers, this move shows that the XRP Ledger is being used not only for payments, but also for tokenized investment products. Franklin, DBS, and Ripple already announced in 2025 that customers could switch between sgBENJI and RLUSD, and DBS also said at the time that it wanted to explore lending against the fund tokens. That lines up with Ripple’s broader push into institutional use cases, including tokenizing traditional fund structures on the XRP Ledger. At the same time, it is still unclear whether this wallet represents one party or multiple clients, because Franklin combines its register with off-chain administration.
