DBS Partners with Franklin Templeton & Ripple to Expand Digital Assets

DBS Bank has partnered with Franklin Templeton and Ripple, offering accredited and institutional investors access to tokenized money market funds and stablecoin services.

Singapore’s largest bank will list Franklin Templeton’s sgBENJI token, which represents units of its tokenized US dollar money market fund, on the DBS Digital Exchange.

Digital asset investors often allocate directly into public blockchain tokens like Bitcoin, Ether, and XRP, which is an approach that has the potential to expose them to high market volatility while generating no yield on their holdings.

Therefore, the DBS Digital Exchange will list sgBENJI to provide clients with greater flexibility to adjust their digital asset portfolios amid rapidly shifting market conditions.

This setup allows DBS clients to swap RLUSD for sgBENJI tokens, letting them quickly rebalance into a more stable asset around the clock while earning yield during volatile periods.

Lim Wee Kian, CEO of DBS Digital Exchange, said:  “Digital asset investors need solutions that can meet the unique demands of a borderless 24/7 asset class. This partnership demonstrates how tokenized securities can play that role while injecting greater efficiency and liquidity in global financial markets.”

To bolster the tokenization ecosystem, Franklin Templeton will issue sgBENJI on the XRP Ledger, an enterprise-grade public blockchain. This addition enhances interoperability across networks, expanding access for participants throughout the blockchain ecosystem.

In the next phase of the partnership, DBS plans to help clients unlock liquidity by using sgBENJI tokens as collateral, whether through repo transactions with the bank or via third-party platforms, where DBS would act as agent holding the collateral.