Franklin Templeton Adds $150 Million in Tokenized Fund Shares to XRP Ledger

BlockBeats news, October 24: Franklin Templeton on Thursday issued approximately $150 million in tokenized money market fund shares on the XRP Ledger, bringing the total related fund shares on the network to nearly 193 million, with a total value of approximately $200 million based on $1.039 per share in the transaction records. The new shares were completed through two subscription transactions of $75 million each, both transferred to the same wallet, making that wallet hold all of the fund's shares on the XRP Ledger.

On-chain records show that the wallet shares the same 8 authorized signer addresses as Franklin Templeton's issuance account, with any two of them able to jointly approve transactions. However, it remains unclear whether the wallet represents a single investor or is held by a custodian on behalf of multiple clients, and the identities of the investors and the source of funds have not been disclosed.

These tokens correspond to shares of Franklin Templeton's Singapore-registered OnChain U.S. Dollar Short-Term Money Market Fund, which primarily invests in short-term U.S. dollar debt and money market instruments, with returns reflected in the share price. RWA.xyz data shows that the fund's tokenized assets on the XRP Ledger rank second only to Ripple's RLUSD stablecoin. Holding the related tokens requires approval from the issuer, and the issuer also retains the authority to freeze balances and recover tokens.