Singapore’s DBS Bank has announced a partnership with Ripple and asset manager Franklin Templeton to broaden its digital asset solutions, linking traditional markets with tokenized instruments.
The initiative will be led by DBS Digital Exchange (DDEx), which has begun listing sgBENJI, a tokenized version of the Franklin OnChain US Dollar Short-Term Money Market Fund. The asset can be traded directly using Ripple’s RLUSD stablecoin.
Franklin Templeton chose the XRP Ledger to host sgBENJI, highlighting its speed and low costs. The fund is already operating on seven other blockchains, including Stellar and Arbitrum, managing over $736 million in tokenized assets.
For DBS, this combination meets demand for constant liquidity in digital assets, allowing investors to trade outside the typical volatility of cryptocurrencies such as Bitcoin and Ethereum.
The next step will be using sgBENJI as collateral in credit operations. DBS is evaluating offering repurchase agreements directly with the bank or through third parties, where it would act as a collateral agent, expanding financing channels in the sector.
Executives noted that integrating stablecoins and tokenized funds offers practical benefits in utility and liquidity on secondary markets. Ripple stated that the collaboration creates an infrastructure capable of supporting the growth of blockchain-based finance.
DBS has been expanding its presence in the sector since 2021 with the tokenization of structured notes on Ethereum.
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