Ripple, Franklin Templeton, DBS Collaborate on Tokenized Fund Trading

DBS, Franklin Templeton, and Ripple have signed an MOU to develop trading and lending solutions using tokenized money market funds on the XRP Ledger and Ripple's stablecoin, RLUSD.
Franklin Templeton will tokenize its U.S. dollar short-term money market fund, listing it as sgBENJI on the XRP Ledger.
DBS Digital Exchange (DDEx) will list sgBENJI alongside RLUSD, allowing clients to balance between a stablecoin and a yield-producing money market fund.
This initiative aims to provide yield opportunities during volatile periods.
Nigel Khakoo from Ripple highlighted the collaboration as transformative for integrating traditional finance with blockchain technology.
DBS is exploring options for sgBENJI holders to use their tokens as collateral for loans, enhancing liquidity options.
The partnership demonstrates how tokenized securities can enhance efficiency and liquidity in global financial markets.