Ripple Partners with DBS and Franklin Templeton for Enhanced Digital Asset Offerings
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Ripple’s Strategic Collaboration with DBS and Franklin Templeton
Ripple has recently announced a strategic partnership with DBS and Franklin Templeton, aiming to introduce tokenized money market funds and stablecoin-based liquidity on the DBS Digital Exchange (DDEx). This initiative is tailored to meet the growing institutional demand for on-chain yield and credit solutions.
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Southeast Asia’s Leading Bank Embraces Ripple Technology
On September 18, a memorandum of understanding was signed, allowing DDEx to list Franklin Templeton’s sgBENJI token, representing the Franklin Onchain US Dollar Short-Term Money Market Fund, alongside Ripple’s US dollar stablecoin, RLUSD. This move enables eligible clients to seamlessly exchange between a yield-bearing token and a stable currency around the clock. The solution is built on the public XRP Ledger, with plans for repo-style lending as the initiative evolves.
DBS, recognized as Southeast Asia’s largest bank by assets, views this collaboration as a step towards a broader institutional shift towards tokenized market infrastructure. Lim Wee Kian, CEO of DBS Digital Exchange, emphasized the need for digital asset investors to have solutions that cater to the demands of a borderless, 24/7 asset class. The bank also plans to allow clients to use sgBENJI as collateral for obtaining credit, either directly from DBS via repurchase transactions or through third-party platforms, where DBS will act as a collateral agent.
Franklin Templeton’s Role in Advancing Tokenized Securities
Franklin Templeton, a pioneer in tokenized funds, will issue sgBENJI on the XRP Ledger to enhance interoperability across networks. Roger Bayston, head of digital assets at Franklin Templeton, described the partnership as a significant step in the utility of tokenized securities and the growth of Asia’s digital asset ecosystem. Ripple’s VP and global head of trading and markets, Nigel Khakoo, highlighted the collaboration as a game-changer for enabling repo trades for tokenized money market funds with a regulated, liquid exchange medium like RLUSD.
Ripple’s Vision for Tokenized Financial Assets
Monica Long, Ripple’s president, placed the announcement within the broader context of the tokenization debate. She stressed the importance of real-world assets having both tradability and practical applications to fulfill their potential. Ripple, DBS, and Franklin Templeton are working towards creating liquid secondary markets and utility for these assets, such as collateralization.
Advantages for Institutional Portfolio Management
The collaboration is tailored for institutional portfolio management. By listing sgBENJI and RLUSD side by side, accredited investors on DDEx can efficiently rebalance from volatile crypto exposures into a stable, yield-accruing fund token within a single, bank-supervised ecosystem. Ripple and DBS emphasize settlement finality within minutes and 24/7 market access, with the XRP Ledger chosen for its speed, low fees, and high-volume fund token transfer capabilities.
DBS’s Noteworthy Role and Ripple’s Compliance-First Approach
DBS’s involvement is significant due to its scale and aggressive development of regulated digital-asset rails through DDEx and specialized custody solutions. Ripple has been positioning RLUSD as a compliance-first stablecoin for institutional payments and market operations. Meanwhile, Franklin Templeton continues to integrate money-market instruments onto public ledgers for programmable liquidity.
As of the latest update, XRP is trading at $3.10.
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