 
 
Ripple has partnered with Singapore’s DBS Bank and $1.5 trillion financial giant Franklin Templeton to offer trading and lending solutions that leverage tokenized money market funds on the XRP Ledger and Ripple’s US dollar-pegged stablecoin, Ripple USD (RLUSD).
XRP Ledger And RLUSD Gain Institutional Edge
According to a Thursday announcement, Ripple, DBS, and Franklin Templeton signed a memorandum of understanding (MOU) to develop trading and lending solutions using tokenized money market funds.
As part of the collaboration, Franklin Templeton will tokenize its money market fund, Franklin on-chain U.S. dollar short-term money market fund, on XRP Ledger, selected for its high-speed settlement and cost efficiency.
At the same time, DBS Digital Exchange (DDEx) is listing sgBENJI, the token representing the Franklin Onchain U.S. Dollar Short-Term Money Market Fund, alongside RLUSD, allowing investors to better manage market volatility by offering a quick way to rebalance their portfolios between stablecoins and yield-generating assets.
“Digital asset investors need solutions that can meet the unique demands of a borderless 24/7 asset class,” said Lim Wee Kian, CEO of DBS Digital Exchange. “This partnership demonstrates how tokenized securities can play that role while injecting greater efficiency and liquidity in global financial markets.”
 
Ripple Calls Collaboration ‘A Game-Changer’
In the next phase of the partnership, DBS is planning to let holders of sgBENJI pledge their tokens as collateral to borrow funds either through repurchase agreements with the bank or third-party lending platforms, where DBS would act as the collateral agent.
The move would create new liquidity options for sgBENJI holders, enabling them to leverage their digital assets to unlock credit while still retaining exposure to the underlying yield-generating money market fund.
Ripple’s VP and Global Head of Trading and Markets, Nigel Khakoo, hailed the collaboration as a “game-changer” for institutional blockchain adoption.
“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 repo trades for a tokenised money market fund with a regulated, stable, and liquid mode of exchange, such as RLUSD, is truly a game-changer,” Khakoo postulated.
According to the VP, investors can seamlessly move between a stablecoin and a tokenized fund within a “single, trusted ecosystem, unlocking real-world capital efficiency, utility and liquidity that institutions demand.”