DBS, Franklin Templeton and Ripple Partner on Tokenised Funds and RLUSD Stablecoin

A major partnership has been announced between DBS Bank, Franklin Templeton, and Ripple, aimed at creating new trading and lending opportunities powered by tokenised money market funds and Ripple’s RLUSD stablecoin on the XRP Ledger.

Bridging Digital Assets With Traditional Finance

The agreement, formalised through a memorandum of understanding, unites three heavyweights: DBS, one of Asia’s largest banks; Franklin Templeton, a global asset manager; and Ripple, a leader in blockchain infrastructure. Their collaboration signals the growing convergence of traditional finance and tokenised digital assets, with 87% of institutional investors expected to allocate into crypto in 2025.

Yield Through Tokenised Money Market Funds

Under the initiative, accredited and institutional investors on the DBS Digital Exchange (DDEx) will be able to acquire Franklin Templeton’s sgBENJI token, representing shares of its tokenised U.S. dollar short-term money market fund, by trading with Ripple’s RLUSD stablecoin.

This provides investors with a way to hedge against volatility in crypto markets while earning yield on relatively stable assets. Transactions can be executed 24/7 within minutes, offering a level of liquidity and efficiency that traditional markets often lack.

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Collateralised Lending: The Next Step

In the second phase of development, DBS will explore allowing investors to use sgBENJI tokens as collateral for credit, either directly through the bank or via third-party platforms where DBS would act as custodian. This would unlock access to broader liquidity pools while ensuring that collateral remains secure under the oversight of a regulated financial institution.

XRP Ledger as the Chosen Network

Franklin Templeton will also expand the reach of sgBENJI by tokenising it on the XRP Ledger, adding to its existing blockchain infrastructure. The XRP Ledger was selected for its high speed, efficiency, and low costs, making it suitable for managing tokenised assets that demand fast settlement and high volume throughput.

By leveraging Ripple’s blockchain ecosystem, this move enhances interoperability across networks and strengthens the foundation for wider adoption of tokenised securities.

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