Franklin Templeton’s $150 Million sgBENJI Issuance Goes to One Wallet

Franklin Templeton’s latest issuance sent about $150 million in tokenized money-market fund shares, known as sgBENJI, to one wallet on XRP Ledger, lifting its balance to nearly 193 million shares.

sgBENJI denotes a tokenized interest in Franklin Templeton’s Franklin OnChain U.S. Dollar Short-Term Money Market Fund. The wallet held about 48 million shares before the addition. At $1.039 per share, a price reflected in transaction records, the full balance is worth roughly $200 million. That valuation covers all shares in the wallet; the roughly $150 million amount applies only to the new issuance.

The figures refer to different snapshots. An Oct. 23 network snapshot showed 48,328,825.16 sgBENJI units. That network snapshot is separate from the roughly 48 million shares in the wallet before the latest issuance, which lifted its balance to nearly 193 million.