DBS, Franklin Templeton, and Ripple have announced plans to launch advanced trading and lending solutions powered by tokenized money market funds and Ripple’s RLUSD stablecoin.
The partnership, formalized through a memorandum of understanding, leverages the XRP Ledger to deliver 24/7 operations for accredited and institutional investors.
This initiative aims to bridge traditional finance with digital assets, offering enhanced liquidity, efficiency, and yield opportunities in an increasingly borderless market.
At the core of this venture are two key innovations: Franklin Templeton’s sgBENJI tokenized money market fund and Ripple’s RLUSD stablecoin. sgBENJI represents Franklin Onchain U.S. Dollar Short-Term Money Market Fund, tokenized directly on the XRP Ledger for the first time.
This allows investors to access a stable, yield-bearing asset class traditionally limited by settlement delays of up to two business days.
Paired with RLUSD—a regulated, U.S. dollar-pegged stablecoin—sgBENJI enables instant settlements and acts as a reliable mode of exchange amid cryptocurrency volatility.
The solutions will debut on DBS Digital Exchange (DDEx), Asia’s leading digital asset platform.
Eligible clients will soon trade sgBENJI alongside RLUSD, providing a stable alternative to volatile digital assets. Investors can earn yields on their holdings, rebalance portfolios in minutes rather than days, and unlock liquidity by using sgBENJI as collateral for credit facilities.
This could involve repo transactions or integrations with third-party platforms, marking a significant evolution in collateralized lending.
The choice of XRP Ledger underscores the partnership’s focus on practicality. Known for its speed—processing transactions in 3-5 seconds—and low costs, the blockchain ensures high-volume operations with minimal friction.
Nigel Khakoo, VP and Global Head of Trading and Markets at Ripple, stated,
“2025 has been marked by a series of industry-firsts when it comes to traditional financial institutions moving onchain – and the linkup between Ripple, DBS and Franklin Templeton to enable repo trades for a tokenized money market fund with a regulated, stable and liquid mode of exchange such as RLUSD….”
This move addresses a growing demand in the digital asset space. According to a 2025 EY-Parthenon and Coinbase report, 87% of institutional investors plan to allocate to digital assets this year, yet many seek stable, yield-generating options to mitigate risks.
Traditional money market funds, while safe, lack the real-time capabilities needed for global, 24/7 markets.
By tokenizing them, DBS, Franklin Templeton, and Ripple reduce settlement risks, enhance interoperability across networks, and inject liquidity into tokenized ecosystems.
Lim Wee Kian, CEO of DBS Digital Exchange, emphasized the borderless nature of modern assets:
“Digital asset investors need solutions that can meet the unique demands of a borderless 24/7 asset class. This partnership demonstrates how tokenized securities can play that role while injecting greater efficiency and liquidity in global financial markets.”
Roger Bayston, Head of Digital Assets at Franklin Templeton, highlighted the transformative potential:
“We believe that blockchain and tokenisation unlock powerful new use cases that have the potential to reshape the global financial ecosystem. Leveraging Franklin Templeton’s expertise in blockchain technologies and digital assets, we are excited to partner with DBS and Ripple to introduce cutting-edge trading and lending solutions for investors.”
For Asia’s digital economy, this partnership is timely.
DBS, a Singapore-based service provider, positions itself as a gateway for institutional adoption in the region, where regulatory clarity is accelerating blockchain integration.
Franklin Templeton’s global reach in asset management adds credibility, while Ripple’s RLUSD—launched earlier in 2025—provides a compliant stablecoin backed by reserves and audited regularly.
Looking ahead, the initial trading rollout on DDEx will pave the way for expanded lending features.
This could potentially set precedents for repo markets onchain, potentially attracting more traditional players wary of crypto’s instability.
As tokenization gains traction, we can expect changes across global finance: faster capital flows, reduced costs, and democratized access to high-quality assets.
By blending tokenized funds with stablecoins, DBS, Franklin Templeton, and Ripple are updating finance in the onchain ecosystem.