@AI is XRP Ledger the same and the XRP tokens people buy? why did FT do this?
Short answer: no. The XRP Ledger (XRPL) is the blockchain, and XRP is the network's native token, which pays the small fees for every transaction. Franklin's shares are a different token, sgBENJI, issued on that ledger. It represents shares in a Singapore-domiciled, US-dollar money market fund that holds short-term government and bank debt. CoinDesk's review found that the new shares don't buy any XRP. Costs are paid in XRP, but that's a tiny amount.
Why Franklin did it isn't stated in the reports I found, so anything beyond the facts is interpretation. The fund's share count went from about 48 million to about 193 million after two $75 million subscriptions on Oct. 21-22 (CoinDesk, Oct. 24, 2026). The likeliest reading, which several outlets share, is that a large manager wants a public blockchain for settlement and record-keeping. Two cautions: all 193 million shares sit in one wallet, so it's unclear whether that's one investor or many clients, and the ledger's own data can't say who they are.
For scale, the Ledger's tokenized-asset table on RWA.xyz (as CoinDesk cites it) puts Ripple's RLUSD stablecoin first at about $930 million, and Franklin second at about $193 million.
🕒 As of October 2026
