Franklin Templeton has constructed an institutional finance framework unlike anything seen previously. Sandy Kaul, the asset manager’s Head of Innovation, featured in a video shared on X by crypto analyst X Finance Bull, detailing how the company currently computes interest on its tokenized money market fund down to the second.
“If you hold it for three hours and six seconds, you get three hours and six seconds worth of interest,” Kaul stated, further noting: “Nobody can do that today.”
This infrastructure operates via Franklin Templeton’s Benji platform, which rolled out on June 10, 2025. The system executes second-level interest calculations, transfers of ownership, and daily distributions that span weekends and holidays.
The more Franklin Templeton talks about this, the more bullish I get on $XRP, stellar:native, and hedera-hashgraph:native.
Watch this interview.
Buckle up, this one’s gonna be a long read.
I've been following institutional blockchain adoption for years, and I genuinely… https://t.co/Adba0xAMZf pic.twitter.com/wV4UPRf8gK
— X Finance Bull (@Xfinancebull) October 26, 2026
What This Means for Institutional Capital
At scale, the figures associated with intraday yield carry substantial weight. Assuming a 4% annual yield, $100 million accumulates roughly $457 over the course of one hour and $10,959 across 24 hours.
Institutions shifting massive volumes of capital across investments, payment operations, and trading activities are positioned to capture returns that previously went uncollected.
As Kaul summarized: “There is not a single cent in her portfolio that will be idle.”
XRP Ledger Enters the Picture
X Finance Bull linked this technical capability to three separate networks, starting with the XRP Ledger. On September 18, 2025, Franklin Templeton, Ripple, and DBS Bank revealed initiatives to connect sgBENJI tokenized money market fund units with RLUSD utilizing the DBS Digital Exchange. Franklin Templeton chose XRPL for sgBENJI on the basis of its efficiency, speed, and minimal transaction fees.
Franklin Templeton deployed approximately $150 million worth of additional sgBENJI units on the XRPL on October 22, 2026. Two distinct issuances of roughly 72.18 million shares each elevated the logged balance to approximately 192.7 million shares, carrying a valuation near $200 million based on a $1.039 share price. Meanwhile, the enterprise’s XRP ETF, XRPZ, registered roughly $363.11 million in net assets as of September 15, 2026.
Stellar and Hedera Also Involved
In April 2021, Franklin Templeton debuted its OnChain U.S. Government Money Fund, FOBXX, on Stellar, marking the inaugural U.S.-registered mutual fund to leverage a public blockchain for tracking ownership and executing transactions. By April 30, 2026, the fund maintained over $650 million in assets on the Stellar network.
Over on Hedera, Archax deployed near-second-by-second cash flow architecture on June 11, 2026, facilitating the distribution of returns from tokenized securities utilizing USDC.
Additionally, Lloyds Banking Group, Aberdeen Investments, and Archax finalized a UK-first transaction on July 14, 2025, deploying tokenized money market fund shares alongside UK government bonds as collateral for foreign exchange trades on Hedera.
Institutional Infrastructure Builds
Franklin Templeton persists in scaling its tokenized financial framework. The organization established a program with Binance in February 2026, granting institutional participants the ability to deploy tokenized money market fund shares as trading collateral maintained via off-exchange custody.
Furthermore, a partnership with MoonPay Trade was forged in June 2026 to bridge stablecoins with tokenized money market assets for liquidity and treasury operations.
Looking ahead, X Finance Bull views the intersection of these advancements as highly impactful for XRP, XLM, and HBAR over the long term.