Franklin Templeton added approximately $150 million in shares of its tokenized money market fund to the XRP Ledger, with two subscription transactions on Thursday bringing the network's total holdings to nearly 193 million shares worth about $200 million.
The addition nearly quadrupled the fund's token balance on the network. All sgBENJI shares on the XRP Ledger are held in a single wallet that shares transaction signers with Franklin's issuing account, though it remains unclear whether the wallet represents one investor or multiple clients.
The fund invests in short-term dollar debt and money-market instruments, including government paper, commercial paper and bank deposits. Returns accumulate in the share price, which was recorded at $1.039 during Thursday's transactions.
The sgBENJI fund is Singapore-domiciled and known formally as the Franklin OnChain U.S. Dollar Short-Term Money Market Fund. It was announced in November 2025 in partnership with DBS, with a $20 minimum investment initially available to wealth and accredited clients, with retail access expected in early 2026.
Franklin's XRP Ledger holdings can be approved, frozen or recovered by the issuer. Holding sgBENJI directly on the XRP Ledger requires Franklin's approval due to these issuer controls.
According to RWA.xyz rankings, Franklin ranks second among tokenized asset platforms on the XRP Ledger, behind Ripple's RLUSD stablecoin at approximately $930 million and ahead of Ondo at $185 million.
