Ripple Partners with Franklin Templeton, DBS for Blockchain Repo Markets

Ripple has formed a strategic partnership with Franklin Templeton and DBS to develop blockchain-based repo markets, enhancing efficiency and liquidity in financial transactions.

The initiative will integrate stablecoins and tokenized collateral for improved financial market operations.
Franklin Templeton’s sgBENJI token, representing shares in a tokenized U.S. dollar short-term money market fund, will be listed on a Singaporean exchange.
Investors can instantly exchange sgBENJI for Ripple’s [RLUSD stablecoin](https://holder.io/coins/rlusd/) during market volatility.
sgBENJI tokens will soon serve as collateral for short-term credit provided by DBS or other lenders, similar to traditional repo markets using U.S. Treasuries.
sgBENJI tokens will be issued on the [XRP Ledger (XRPL)](https://holder.io/coins/xrp/) and other blockchains, leveraging XRPL's capacity for large-scale tokenized funds.
[RLUSD](https://holder.io/coins/rlusd/) will function as the base trading currency, with its market cap nearing $730 million.

This collaboration highlights the growing adoption of blockchain technology in institutional finance, as stated by Ripple’s Nigel Khakoo, marking it as a significant development for financial markets.