DBS, Franklin Templeton, Ripple team up on tokenised money market fund trading
Published by Global Banking and Finance Review
Posted on September 18, 2025
1 min readLast updated: January 21, 2026
Published by Global Banking and Finance Review
Posted on September 18, 2025
1 min readLast updated: January 21, 2026
DBS, Franklin Templeton, and Ripple collaborate to offer tokenised money market fund trading, enhancing liquidity and efficiency in global markets.
SINGAPORE (Reuters) -DBS Group has partnered with U.S. asset manager Franklin Templeton and blockchain firm Ripple to offer accredited and institutional investors trading and lending services using tokenised money market funds and Ripple's U.S. dollar stablecoin.
Under the agreement, Singapore's biggest lender said that it will list Franklin Templeton's sgBENJI token - the unit of the asset manager's tokenised U.S. dollar money market fund - on the DBS Digital Exchange alongside Ripple's RLUSD stablecoin.
The setup will allow eligible investors to swap between the two and earn yield, the bank said in a statement.
"This partnership demonstrates how tokenised securities can play that role while injecting greater efficiency and liquidity in global financial markets," Lim Wee Kian, DBS Digital Exchange CEO, said in the statement.
DBS said that it also plans to explore allowing clients to use sgBENJI tokens as collateral for credit, either via bank-run repurchase transactions or through third-party platforms where DBS would act as the agent holding the pledged collateral.
Franklin Templeton will issue the tokens on Ripple's XRP Ledger blockchain, according to the statement.
(Reporting by Yantoultra Ngui; Editing by Kirsten Donovan)
The partnership aims to offer accredited and institutional investors trading and lending services using tokenized securities.
The sgBENJI token is the unit of Franklin Templeton's tokenized U.S. dollar money market fund, which will be listed on the DBS Digital Exchange.
Eligible investors will be able to swap between the sgBENJI token and earn yield, enhancing efficiency and liquidity in financial markets.
DBS plans to explore allowing clients to use sgBENJI tokens as collateral for credit through bank-run repurchase transactions or third-party platforms.
Franklin Templeton will issue the sgBENJI tokens on Ripple's XRP Ledger blockchain.
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