DBS, Franklin Templeton, and Ripple partner 19 September 2025Singapore Reporter: Zarah Choudhary
Image: Ripple, DBS and Franklin Templeton
DBS, Franklin Templeton, and Ripple are partnering to provide accredited and institutional investors with trading and lending solutions, powered by tokenised money market funds on the XRP ledger blockchain, and stablecoins such as Ripple USD (RLUSD).
The firm says this partnership — formalised with the signing of a memorandum of understanding — brings together the unique strengths of one of Asia’s largest financial institutions, a global investment manager and the leader in enterprise blockchain and cryptocurrency solutions.
To enable clients to manage their digital asset portfolios more nimbly in response to rapidly changing market conditions, DBS Digital Exchange will list sgBENJI — the token of Franklin Templeton’s tokenised money market fund, Franklin Onchain US Dollar Short-Term Money Market Fund — alongside RLUSD.
The firm says that with this setup, eligible DBS clients can trade RLUSD for sgBENJI tokens, enabling them to rebalance their portfolios into a relatively stable asset 24/7 and within minutes, while earning yield during periods of volatility.
In the next phase of the partnership, DBS will explore helping clients unlock liquidity by using their sgBENJI tokens as collateral.
To strengthen the tokenisation ecosystem, Franklin Templeton will tokenise sgBENJI on the XRP Ledger — a public and enterprise-grade blockchain.
Lim Wee Kian, CEO of DBS Digital Exchange, says: “Digital asset investors need solutions that can meet the unique demands of a borderless 24/7 asset class. This partnership demonstrates how tokenised securities can play that role while injecting greater efficiency and liquidity in global financial markets.”
Roger Bayston, head of Digital Assets at Franklin Templeton, adds: “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.”
Nigel Khakoo, vice president and global head of Trading and Markets at Ripple, comments: “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 the first-ever repo trade for a tokenised money market fund with a regulated, stable and liquid mode of exchange such as RLUSD is truly a game-changer.”
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Image: Ripple, DBS and Franklin Templeton 