Franklin Templeton Pushes $150M in sgBENJI Tokens to XRP Ledger
Franklin Templeton has increased its tokenized investment footprint on the XRP Ledger (XRPL) with the addition of approximately $150 million in sgBENJI shares. The move almost quadrupled the asset manager’s tokenized fund holdings on the blockchain, highlighting continued institutional interest in blockchain-based financial products.
The expansion was made up of two $75 million subscription receipts in cash, recorded on Wednesday, with share issuances following on Thursday, according to on-chain data provided.
Franklin Templeton Increases sgBENJI Position on the XRPL
The most recent transactions caused Franklin Templeton’s sgBENJI share balance on the XRP Ledger to increase significantly. Each issuance resulted in just over 72.18 million shares at a price of $1.039 per share.
XRPL asset manager had around 48 million shares before these transactions. After the new issues, its holdings grew to just under 193 million shares with a value of about $200 million at the quoted price.
The rise demonstrates how tokenized investment funds can utilize blockchain infrastructure to record subscriptions and issue digital representations of fund shares. But the transactions don’t tell us how many individual investors are represented in the holdings.
How Franklin Templeton’s Multi-Signature Wallet Works
Franklin Templeton’s entire sgBENJI balance on the XRPL is held in one wallet that shares eight signing addresses with the fund’s issuing account. Any 2 of these 8 addresses can together authorize a transaction.
It allows the issuer to control which transactions get approved . It lets the issuer freeze balances or recover tokens if needed . These capabilities can assist compliance requirements related to regulated tokenized financial products.
But the fact that the entire position is in one wallet raises questions over asset ownership and custody arrangements. Franklin Templeton has not disclosed if the wallet is an omnibus account for several clients or a large allocation for a single client.Ripple Partnership Backs Institutional Tokenized Finance
The expansion is an extension of the partnership between Ripple, DBS and Franklin Templeton announced in September 2025. The initiative allowed DBS Digital Exchange clients to exchange sgBENJI tokens for Ripple’s RLUSD stablecoin and test the use of tokenized fund shares as collateral.
These developments link traditional investment products with trading and settlement infrastructure based on blockchain. Tokenization can make transactions more efficient and more accessible to eligible investors, as well as enable new financial applications, but adoption depends on regulatory requirements and market demand.
Franklin Templeton Ranks XRPL Tokenized Assets
Franklin Templeton is the second-largest issuer of tokenized assets on XRPL, with approximately $200 million in sgBENJI holdings, according to the numbers on RWA.xyz. Ripple’s RLUSD tops with approximately $930 million, followed by Ondo Finance with approximately $185 million.
The figures put Franklin Templeton between the two issuers in the reported ranking. The broader XRPL real-world asset market cap reportedly reached $2.25 billion earlier in 2026, up 124% in the first quarter.# Franklin Templeton Expands Utility For Tokenized Fund
Franklin Templeton is also working to increase access to its tokenized money market fund. Eligible clients can use sgBENJI shares as collateral for stablecoin credit lines with Bybit under applicable terms while earning fund yield.
The company is also working with HashKey to offer the tokenized fund to professional investors in Asia through the Earn channel on HashKey Exchange. These initiatives demonstrate that tokenized fund shares can be used for more than just traditional ownership of investment holdings.
The Significance of the $150 Million XRPL Expansion
Franklin Templeton’s latest $150 million investment in the XRPL tokenized asset ecosystem broadens its footprint. The increase in sgBENJI holdings, along with partnerships involving collateral and stablecoin transactions, suggests increasing attempts to connect conventional financial products with blockchain networks.
However, wallet concentrations, custody arrangements, regulatory compliance and real investor demand are still key factors. In the long term, the true measure of the importance of this expansion will be if tokenized funds become widely adopted and if they have practical applications throughout institutional financial markets.
