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AI summary of a third-party reportBullishNewsDesk

Franklin Templeton adds $150m of sgBENJI fund shares to XRP Ledger in one wallet

Two subscriptions on Thursday nearly quadrupled the tokenised money market fund's shares on the network, all held in a single wallet that shares signers with the issuer.

InvestIn.News NewsDesk · 1 min read
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Picture from CoinDesk for: Franklin Templeton adds $150m of sgBENJI fund shares to XRP Ledger in one wallet
Image: CoinDesk
Original reporting: Shaurya Malwa, CoinDesk

Key points

  • Two batches of just over 72,184,793 shares settled at 02:58 and 04:13 UTC on Thursday, each tied to a $75m subscription receipt.
  • The wallet and Franklin's issuing account authorise the same eight signing addresses, with any two able to approve a transaction.

Franklin Templeton moved about $150m of its tokenised money market fund onto the XRP Ledger, with all of the new sgBENJI shares landing in a single wallet. That wallet now holds the fund's entire token balance on the network, nearly 193 million shares, up from roughly 48 million before Thursday, CoinDesk reports. At the $1.039 share price recorded in the transactions, the holding is worth about $200m.

Ledger records show the receiving wallet and Franklin's issuing account authorise the same eight signing addresses, and any two of them can jointly approve a transaction. Franklin had not answered CoinDesk's questions about the wallet by Asia morning hours on Saturday.

Returns accumulate in the share price. Franklin can approve, freeze or recover the tokens on the network.

The subscriptions were recorded as two $75m receipts on Wednesday, followed by two share batches on Thursday.

What to watch: Franklin has yet to reply to CoinDesk's questions on whether the wallet is an omnibus account and how many investors funded the subscriptions.

Read the full story on CoinDesk

Live updates on NewsFeeds:AltcoinsDesk editor: Keshav Aggarwal (accountable for this page; this summary was not edited by hand)

How this was produced: an AI model wrote this summary of CoinDesk’s report, which we credit and link above. Read our Editorial and AI policy. Spotted a mistake? See Corrections.

Not investment advice. Read the risk disclaimer.

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