DBS, Franklin Templeton, and Ripple Launch Tokenised Fund and Stablecoin Services

DBS Group has joined forces with U.S. asset manager Franklin Templeton and blockchain firm Ripple to expand tokenised finance for accredited and institutional investors. The collaboration introduces trading and lending services on the DBS Digital Exchange using Franklin Templeton’s tokenised money market fund and Ripple’s U.S. dollar stablecoin, RLUSD.

Singapore’s largest bank confirmed it will list Franklin Templeton’s sgBENJI token, which represents units of the tokenised U.S. dollar money market fund, alongside Ripple’s RLUSD stablecoin. This setup enables investors to seamlessly swap between the two digital assets while earning yield.

Lim Wee Kian, CEO of DBS Digital Exchange, highlighted the initiative as a milestone for financial innovation, noting that tokenised securities can “inject greater efficiency and liquidity in global financial markets.”

The bank also revealed plans to let clients use sgBENJI tokens as collateral for credit. This could be structured through bank-run repurchase transactions or third-party platforms, with DBS acting as collateral agent.

Franklin Templeton will issue the sgBENJI tokens on Ripple’s XRP Ledger blockchain, ensuring transparency and security in fund tokenisation. By leveraging Ripple’s stablecoin and Franklin Templeton’s tokenised assets, the partnership aims to expand liquidity options and create new opportunities in digital finance.

The collaboration reflects growing demand for tokenisation in global markets, where stablecoins and digital securities are increasingly viewed as tools for efficiency, yield generation, and cross-border liquidity. With DBS at the forefront, Singapore strengthens its role as a hub for blockchain-driven financial innovation.