Franklin Templeton has reached a new milestone with its real-world asset fund on the Stellar network, totaling $1.1 billion. This growth was driven by a $200 million net capital inflow into the tokenized money market fund BENJI, positioning Stellar as a prominent network for the asset management giant, surpassing Ethereum and standing out second only to BNB Chain.
Stellar and XRPL Divergence Amplifies
A report by the RWA Foundation, based on Token Terminal data, highlights a significant gap in institutional fund volumes between Stellar and the XRP Ledger. Although both blockchains were founded by Jed McCaleb, current data indicates that Stellar has carved out a stronger position in the distribution and usage of institutional assets.
Within the Stellar ecosystem, liquidity from real-world assets is concentrated in four major platforms. Spiko holds nearly half of the $2 billion tokenized fund market. Franklin Templeton ranks second with its flagship fund, while BlackRock-backed Ondo and Realiz share the remaining majority, each hovering around $500 million.
Franklin Templeton added another $100 million to BENJI shortly before the report’s release.
Limited Presence on XRP Ledger
As one of the most enduring asset management firms from the United States, Franklin Templeton plays a significant role in migrating traditional financial products onto blockchains. On the XRP Ledger, its presence is limited to the $200 million sgBENJI fund. Conversely, on Stellar, the company exhibits a far more robust profile, both in unique real-world asset token ownership and distribution volume.
Data reveal that Stellar has established a roughly tenfold advantage over XRPL concerning unique real-world asset token holders. In terms of monthly asset distribution volume, Stellar channels hundreds of millions of dollars, starkly exceeding the mere $22 million observed on the XRPL network.
Stark Contrast in Stablecoin Utilization
The divergence between the two networks is most apparent in stablecoin utilization. Despite having a similar number of stablecoins on both chains, the digital dollars linked to Stellar are predominantly used for commercial transactions. Monthly transfer volumes in this realm reach $20.48 billion compared to XRPL’s $9 million.
This indicates that while stablecoins on the XRPL network are primarily held as balance sheet assets, those on Stellar are actively utilized in payment infrastructures. The differences in corporate payment channels underscore the functional disparities between the networks.
Industry Integrations Fuel Stellar’s Momentum
Stellar’s upward trajectory gained momentum in the second half of 2026, bolstered by internal industry integrations. Key among these developments was the integration of Chainlink‘s price oracle solution, enhancing network capabilities. The joint venture with DTCC is further anticipated to transition traditional financial instruments to an on-chain environment by the first half of 2027.
Glossary: DTCC plays a central role in the U.S. financial markets by providing securities clearing and custody infrastructure. Tokenized assets represent the digital representation of traditional financial products, such as stocks, funds, or short-term debt instruments, on a blockchain.
The sudden $200 million increase in BENJI on Stellar caught even seasoned market participants by surprise.
