Ripple, Franklin Templeton, and DBS have joined forces to advance tokenized finance through a new collaboration.
The three firms signed a partnership to develop lending and trading tools using tokenized money market funds and Ripple’s new stablecoin, Ripple USD (RLUSD).
With collaboration, the trillion-dollar asset manager will tokenize its Franklin OnChain U.S. Dollar Short-Term Money Market Fund as sgBENJI on the XRP Ledger, adding to its existing blockchain offerings.
This makes it easier for investors to access and trade a familiar financial product using blockchain technology.
Introducing the next building block of onchain markets – we’re partnering with @DBSbank and @FTI_Global to establish repo markets powered by tokenized collateral and stablecoins: https://t.co/vFTL32XO8C
Investors will be able to use $RLUSD to trade for Franklin Templeton’s money…
— Ripple (@Ripple) September 18, 2025
DBS Digital Exchange to List sgBENJI and RLUSD
To support adoption, DBS Digital Exchange (DDEx) will list sgBENJI, the token representing Franklin Templeton’s fund, alongside RLUSD. This dual listing enables DBS clients to switch between a stablecoin and a yield-generating asset without leaving the exchange.
For investors, this offers the ability to maintain stability during volatile periods while also earning yield when markets present opportunities.
Ripple Calls the Collaboration a “Game Changer”
Ripple’s Vice President and Global Head of Trading and Markets, Nigel Khakoo, hailed the collaboration as a turning point for institutional blockchain adoption. He emphasised that 2025 has already seen several first-of-its-kind moves by traditional financial institutions exploring tokenization.
According to Khakoo, combining a tokenized money market fund with a liquid and regulated stablecoin such as RLUSD opens the door to more efficient repo trading and enhances overall liquidity in capital markets.
“Investors can seamlessly rebalance portfolios between a stablecoin and a yield-bearing money market fund within a single ecosystem,” said Khakoo. “This unlocks real-world capital efficiency and utility that institutional players have long been seeking.”
DBS Highlights the Future of Tokenized Securities
Lim Wee Kian, CEO of DBS Digital Exchange, noted that tokenization is no longer a futuristic idea but a practical tool for modern financial markets. He argued that securities such as money market funds can play a central role in increasing liquidity. Issuing them on-chain, he said, can further improve efficiency.
For DBS, this collaboration is also about building investor trust by combining regulated assets with innovative financial technology.
Future Liquidity Options
DBS is also considering additional use cases for sgBENJI. One possibility under review is allowing token holders to use sgBENJI as collateral to borrow funds, either from DBS itself or through partner platforms.
This would grant investors access to new liquidity streams and ensure they continue benefiting from the underlying returns of the money market fund. Such a model could appeal particularly to institutional clients seeking to maximise the utility of their assets.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
