Franklin Templeton Issues Additional $150 Million of Tokenized Fund Shares on XRP Ledger
Summary
- Franklin Templeton said it issued an additional $150 million of tokenized money market fund shares on the XRP Ledger.
- The issuance increased the number of the fund's shares on the XRP Ledger to about 193 million from about 48 million, roughly a fourfold increase.
- The issued sgBENJI tokens were moved to a single wallet, though it was not clear whether it belonged to a single investor or was a custody account.
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Global asset manager Franklin Templeton has issued an additional $150 million of tokenized money market fund shares on the XRP Ledger.
Franklin Templeton issued a total of $150 million of tokenized fund shares on the XRP Ledger on October 22, CoinDesk reported on October 24. The issuance raised the number of the fund's shares on the XRP Ledger to about 193 million from about 48 million, roughly quadrupling the total.
The newly issued tokens were sgBENJI of the Franklin OnChain U.S. Dollar Short-Term Money Market Fund, which was established in Singapore.
The tokens were moved to a single wallet, the report said. That wallet now holds all sgBENJI issued on the XRP Ledger and shares the same eight authorized transaction addresses as the token issuance account.
It was not clear whether the wallet belongs to a single investor or is a custody account managing pooled assets for multiple investors. Franklin Templeton also did not respond to questions about the number of investors and the source of the funds.
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