DBS Bank has announced a major partnership with Franklin Templeton and Ripple to expand its tokenized asset services. In a statement shared with Reuters, the bank said it will list Franklin Templeton’s U.S. dollar money market fund token, sgBENJI, alongside Ripple’s U.S. dollar stablecoin, RLUSD, on the DBS Digital Exchange.
The move is aimed at accredited and institutional investors, who will be able to trade and lend using these digital assets, as well as swap between the two to earn yield.
“This partnership demonstrates how tokenised securities can play that role while injecting greater efficiency and liquidity in global financial markets,” said Lim Wee Kian, CEO of DBS Digital Exchange.
DBS also noted it is exploring ways for clients to use sgBENJI tokens as collateral for credit, either through bank-run repurchase transactions or on third-party platforms where DBS would act as the agent holding the pledged collateral.
The statement added that Franklin Templeton will issue the sgBENJI tokens on Ripple’s XRP Ledger. This means the fund’s digital shares will be recorded and moved on Ripple’s blockchain, while Ripple’s RLUSD stablecoin provides a dollar-based trading option.
Together, these steps make it easier for investors to move between the fund and the stablecoin and to use both in DBS’s trading and lending services. The bank sees this as another sign that traditional finance and blockchain networks are starting to work more closely, opening the door for new products and more flexible ways to manage money.
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