Franklin Templeton has added the XRP Ledger as a supported network for its BENJI money market fund, extending the tokenized product beyond its existing deployment on the Stellar network. The move deepens the global asset manager's push into blockchain-based financial products and reflects growing institutional interest in distributing tokenized real-world assets across multiple blockchains.

The expansion is expected to enhance the fund's operational flexibility, particularly in areas such as interest calculations, liquidity management, and the movement of tokenized financial assets. Franklin Templeton, which manages approximately $1.79 trillion in assets, continues to explore blockchain infrastructure as a means of modernizing traditional investment products.

BENJI Fund Broadens Beyond Stellar

The BENJI fund represents Franklin Templeton's effort to bring traditional money market investments onto blockchain infrastructure. Money market funds, which hold short-term debt instruments and are widely used for institutional cash management, are among the most established products in traditional finance. By extending the product to the XRP Ledger, the blockchain associated with the XRP token, the company is broadening the number of networks through which investors can access its blockchain-based offering.

The addition of the XRP Ledger creates another operating environment for the fund alongside Stellar. This multi-chain approach could provide greater flexibility in managing tokenized fund shares while allowing the asset manager to draw on different blockchain ecosystems for financial services.

The expansion also underscores the growing role of blockchain networks in supporting traditional financial products, particularly money market funds that require efficient liquidity management and transparent investment operations. The integration is especially relevant to institutional investors seeking blockchain-based alternatives to conventional financial infrastructure.

Tokenization allows ownership interests in financial assets to be represented digitally on a blockchain, potentially improving the efficiency of recordkeeping, settlement, and asset transfers. Franklin Templeton's decision to run BENJI across multiple networks also shows that established asset managers are increasingly weighing interoperability and network diversity when designing digital investment products.

Singapore Vehicle Records $150 Million in New XRP Ledger Shares

The expansion has already drawn attention through developments involving the Singapore version of the fund. According to reports, the Singapore-based BENJI offering recently recorded approximately $150 million in newly issued shares on the XRP Ledger.

The issuance points to growing institutional participation in blockchain-based investment products and offers another example of traditional financial assets being introduced into digital infrastructure. It also highlights the potential for blockchain networks to support the issuance and administration of regulated investment products.

As more financial institutions explore tokenization, the ability to issue, track, and manage fund interests through distributed ledger technology could become an increasingly important component of investment operations. The development of tokenized funds, however, will still depend on investor demand, regulatory requirements, operational safeguards, and the capacity of blockchain infrastructure to support institutional financial activity. Whether additional issuances follow on the XRP Ledger, and how the fund's activity is ultimately balanced between the two networks, will be a detail worth watching as its multi-chain structure takes shape.

Stellar Retains a Leading Position in Real-World Asset Tokenization

Despite the expansion onto the XRP Ledger, Stellar continues to hold a significant position in the real-world asset tokenization sector. The network reportedly leads the ecosystem with approximately $4 billion in tokenized real-world assets, an established presence that reflects sustained institutional interest in using blockchain infrastructure for traditional assets.

The growing adoption of these networks comes amid challenging market conditions for cryptocurrencies. Stellar's native XLM token has faced bearish price conditions, highlighting the distinction between cryptocurrency market performance and the adoption of the underlying blockchain infrastructure. Institutional participation in tokenization can continue to expand even when associated tokens experience price weakness, as financial institutions may evaluate networks on their technology, reliability, and suitability for financial applications rather than short-term token performance.

Multi-Chain Finance Gains Institutional Attention

Franklin Templeton's BENJI expansion reflects a broader shift toward integrating blockchain technology into established financial markets. Rather than relying on a single network, asset managers are exploring multiple blockchain environments to support digital securities and investment products.

Extending BENJI to the XRP Ledger, alongside its existing Stellar presence, reinforces the growing importance of multi-chain infrastructure in the institutional adoption of tokenized financial assets. As traditional asset managers continue to experiment with blockchain-based investment products, developments involving Franklin Templeton could help demonstrate how established financial instruments operate within increasingly interconnected digital asset ecosystems.

This article is based on reporting originally published by CoinTrust. Official information about the firm is available at franklintempleton.com.