Key Takeaways
- • Franklin Templeton issued an additional $150 million of tokenized money market fund shares on the XRP Ledger on October 22, according to a CoinDesk report published October 24.
- • The issuance lifted the tokenized fund's supply on the XRP Ledger to about 193 million shares from about 48 million, roughly a fourfold increase.
- • The newly issued tokens are sgBENJI, representing the Franklin OnChain U.S. Dollar Short-Term Money Market Fund, which is established in Singapore.
- • All sgBENJI on the XRP Ledger now sits in a single wallet that shares the same eight authorized transaction addresses as the issuance account, but it is unclear whether it belongs to one investor or is a custody account for pooled assets.
- • Franklin Templeton did not respond to questions about the number of investors or the source of the funds.
Summary
Global asset manager Franklin Templeton has issued an additional $150 million of tokenized money market fund shares on the XRP Ledger, according to CoinDesk, which reported the issuance on October 24 for transactions dated October 22. The issuance raised the circulating count of the fund's shares on the XRP Ledger to about 193 million from about 48 million.
The newly issued tokens are sgBENJI, which represent the Franklin OnChain U.S. Dollar Short-Term Money Market Fund, a vehicle established in Singapore. The report said the newly issued tokens were moved to a single wallet. That wallet now holds all sgBENJI issued on the XRP Ledger and shares the same eight authorized transaction addresses as the token issuance account.
The filing-level details leave key questions open. It is not clear whether the wallet belongs to a single investor or is a custody account managing pooled assets for multiple investors. Franklin Templeton also did not respond to questions about the number of investors and the source of the funds.
The newly issued tokens are sgBENJI, which represent the Franklin OnChain U.S. Dollar Short-Term Money Market Fund, a vehicle established in Singapore. The report said the newly issued tokens were moved to a single wallet. That wallet now holds all sgBENJI issued on the XRP Ledger and shares the same eight authorized transaction addresses as the token issuance account.
The filing-level details leave key questions open. It is not clear whether the wallet belongs to a single investor or is a custody account managing pooled assets for multiple investors. Franklin Templeton also did not respond to questions about the number of investors and the source of the funds.
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