Ripple has taken a step into institutional finance through a new partnership with Singapore’s DBS Bank and U.S. asset manager Franklin Templeton. The deal links Ripple’s U.S. dollar stablecoin, RLUSD, with tokenised money market funds, creating a direct path for accredited investors to trade between cash and yield-bearing products.
DBS Digital Exchange will list Franklin Templeton’s sgBENJI token alongside RLUSD. This gives investors the ability to move between a stablecoin and a money market fund within minutes. The design allows them to maintain liquidity while earning returns, without having to leave digital markets for traditional banking channels.
DBS plans a second stage that would let investors use sgBENJI tokens as collateral. This would open access to credit through repo agreements or lending platforms, extending the role of tokenised funds beyond trading into financing.
Expanding Tokenisation on the XRP Ledger
Franklin Templeton will also expand sgBENJI tokenisation onto the XRP Ledger, citing its fast settlement and low transaction costs. Using the XRP Ledger positions the product within an established blockchain known for its efficiency in handling tokenised assets.
Nigel Khakoo, Ripple’s VP and Global Head of Trading and Markets, said the move gives investors a way to rebalance portfolios and unlock liquidity. He described it as a development that provides the “capital efficiency and utility that institutions demand.”
This is one of the first major cases of RLUSD being used in connection with global financial products. It shows how stablecoins can be paired with tokenised funds to create structures aimed at institutional investors. For Ripple, the partnership places RLUSD at the centre of a model that blends liquidity, credit, and tokenisation in regulated markets.
