Franklin Templeton joins STBL with $100M USST mint

Franklin Templeton is among the first to mint the new stablecoin USST issued by the STBL project. The first mint arrives just days after the trading debut of the STBL token. 

Franklin Templeton is among the early adopters of the USST stablecoin, which splits the principal and yield components. The fund, which is among the tokenization pioneers on multiple chains, injected $100M into the STBL project. 

BREAKING: Franklin Templeton partners with STBL, minting $100M in $USST as part of the innovative Stablecoin 2.0 project. pic.twitter.com/HRkgYrnLg9

— Cryptopolitan (@CPOfficialtx) September 18, 2025

As Cryptopolitan reported earlier, STBL is a stablecoin project by the co-founder of Tether, Reeve Collins.

STBL takes yield-bearing products such as money market funds and turns them into stablecoins backed by the principal, as well as YLD tokens reflecting the yield. Franklin Templeton is expected to provide the assets for its first USST mint, as the STBL team announced through its social media. 

The STBL stablecoins resemble zero-coupon bonds, which split the principal and yield. For STBL users, the option is open to retain each of the components, or sell them to willing third parties. 

The USST token is still in beta testing, and the partnership with Franklin Templeton will complete the mint after the launch. Franklin Templeton already has experience with tokenizing money market products, but this time the fund will use the infrastructure of STBL. 

STBL has already built its initial minting demo, where traders will be able to use on-chain RWA to create USST. The ecosystem is still in its pre-launch stage and has yet to show the real demand and activity. The first eligible products to be deposited will be BUIDL tokens by BlackRock and Ondo tokenized assets. 

STBL trades near all-time high

STBL retained most of its post-launch gains. The token is still trading around $0.18, expanding by 323% since its launch. 

The token still relies on spot markets and has limited derivative positions. Despite the high-profile launch, the token still has only 7,512 holders. Additionally, the low float is raising doubts about the price sustainability. 

STBL trading also still relies heavily on PancakeSwap. The token’s top trader realized $3.1M in gains after rapid initial selling, while the second-best trader extracted $2.7M. The token still has around $3.2M in its biggest liquidity pool. STBL still awaits more listings, as it only has Binance Alpha status, with no full spot listing. The token expects to significantly increase its float in the next 12 months, to 36% of the total supply. 

On-chain analysts also noted that the STBL token is not entirely transparent about ownership, locked tokens, and selling pressure. Not all wallets are labeled, and there are signs that some of the market makers sold STBL early, locking in profits. For now, those activities have not crashed STBL, but have been pointed out as a warning. 

STBL is one of the latest major projects to choose BSC for its launch. The token’s TGE preceded another BNB rally, adding to the bullish factors. Following the launch of several high-profile tokens, Binance’s native coin broke its record at over $1,003. Recently, Franklin Templeton also announced a partnership with Binance, expanding the reach of tokenized funds.

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