DBS Bank, Franklin Templeton, Ripple partner on tokenization
The post DBS Bank, Franklin Templeton, Ripple partner on tokenization appeared on BitcoinEthereumNews.com.
DBS Bank teams up with Franklin Templeton and Ripple to list tokenized money market fund and stablecoin on DBS Digital Exchange. Summary DBS will list Franklin Templeton’s sgBENJI token on its Digital Exchange, paired with Ripple’s RLUSD stablecoin. Investors can trade between tokenized fund units and stablecoins, with future plans for lending and repo transactions. The move highlights Singapore’s growing role in tokenization as Franklin Templeton and Ripple expand blockchain-based financial products. DBS Bank is deepening its push into digital assets through a new partnership with Franklin Templeton and Ripple that will bring tokenized money market funds and stablecoin services to accredited and institutional investors. In a statement on Sept. 18, cited by Reuters, Singapore’s largest lender confirmed it will list Franklin Templeton’s sgBENJI token, representing units of its tokenized U.S. dollar money market fund, on the DBS Digital Exchange. The offering will be paired with Ripple’s U.S. dollar stablecoin, RLUSD, enabling investors to swap between the two and access yield opportunities. Tokenized assets meet stablecoins The setup allows for direct trading between a tokenized money market fund and a regulated stablecoin, a model DBS says could boost efficiency and liquidity in global markets. Franklin Templeton will issue the sgBENJI token on Ripple’s XRP Ledger, which has been chosen for its speed, cost-efficiency, and interoperability. “This partnership demonstrates how tokenized securities can play that role while injecting greater efficiency and liquidity in global financial markets,” said Lim Wee Kian, chief executive officer of DBS Digital Exchange. DBS also plans to expand the service by letting clients use sgBENJI tokens as collateral for credit. Options under consideration include bank-run repurchase transactions (repos) and third-party lending platforms where DBS would act as custodian of the pledged collateral. Strategic context of DBS Bank initiative The partnership comes as asset managers and banks step…
