Franklin Templeton added $150 million worth of shares in its tokenized money market fund to the XRP Ledger earlier Friday, with every new share went to one wallet which now holds the fund’s entire token balance on the network.
That wallet and Franklin’s issuing account authorize the identical eight signing addresses. Any two can jointly approve a transaction, according to CoinDesk’s review of ledger records.
The wallet holds nearly 193 million sgBENJI shares, up from about 48 million before Thursday. At the $1.039 share price recorded in the transactions, that is worth about $200 million.
RWA.xyz ranks Franklin second in its XRP Ledger table of tokenized asset platforms, behind Ripple’s RLUSD stablecoin at about $930 million and ahead of Ondo at $185 million.
Each token represents a share of the Singapore-domiciled Franklin OnChain U.S. Dollar Short-Term Money Market Fund. It invests in short-term dollar debt and money-market instruments, including government paper, commercial paper and bank deposits. Returns accumulate in the share price.
On Wednesday, Franklin’s issuing account wrote two subscription receipts onto the ledger. Each recorded a $75 million cash subscription and carried its own reference code.
Two batches of just over 72,184,793 shares followed at 02:58 and 04:13 UTC Thursday, each carrying a matching receipt code and a $1.039 share price.
The receipts leave the investors, funding source and any connection to existing holdings on Stellar, the other blockchain the fund uses, undisclosed.
xyz lists Franklin’s XRP Ledger position at about $193 million, matching the share count at a dollar each.
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