Franklin Templeton places $150 million of tokenized money‑market shares on the XRP Ledger
Franklin Templeton moved roughly $150 million worth of its tokenized short‑term money‑market fund shares onto the XRP Ledger, raising the on‑chain balance to about 193 million sgBENJI tokens valued near $200 million. All of the new tokens were recorded in a single XRPL wallet that shares its authorized signers with Franklin’s issuing account. The deposit did not move XRP’s market price, which stayed around $1.28.
Why it matters
The asset manager’s on‑chain holdings increase, potentially expanding fee‑based revenue, while the concentration of tokens in one wallet limits any immediate demand for XRP and leaves investor distribution unclear (the 247WallSt article notes the price impact was negligible).
Key facts
- 1Franklin Templeton transferred approximately $150 million in fund shares to the XRP Ledger. coindesk.com
- 2The on‑chain balance rose to roughly 193 million sgBENJI shares, valued at about $200 million using a $1.039 share price. coindesk.com
- 3Two cash‑subscription receipts of $75 million each were recorded on October 21, followed by two batches of about 72.18 million shares on October 22. coinpaper.com
- 4All shares are held in a single XRPL wallet that shares eight authorized signing addresses with Franklin’s issuing account. coindesk.com
- 5XRP traded at $1.28 and showed no significant reaction to the deposit. 247wallst.com
Summary written by AlphAI AI Desk from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.