- Ripple, DBS, and Franklin Templeton launched the first tokenized repo trading system on XRP Ledger using RLUSD.
- sgBENJI money market fund tokens can now trade 24/7 against RLUSD, unlocking stable institutional yields.
- Next phase will use sgBENJI as collateral for repo markets, bringing traditional finance tools onchain.
Ripple’s RLUSD stablecoin is making waves after news broke of a groundbreaking partnership with DBS Digital Exchange and Franklin Templeton. Together, the firms have launched the first-ever tokenized money market fund repo trading platform built directly on the XRP Ledger. The move marks a pivotal moment for institutional crypto, offering accredited investors stable yield opportunities in a market that never sleeps.
RLUSD + Tokenized Funds = Institutional Yield
Under the new system, DBS Digital Exchange now lists Franklin Templeton’s sgBENJI token alongside Ripple’s RLUSD. This allows 24/7 trading between stablecoins and yield-bearing tokenized money market funds—a setup designed for institutions looking to balance liquidity with consistent returns.
Franklin Templeton’s sgBENJI represents shares in its U.S. Dollar Short-Term Money Market Fund. By leveraging the XRP Ledger’s speed and low fees, the partnership delivers seamless rebalancing between stable assets and tokenized securities. According to DBS CEO Lim Wee Kian, the innovation addresses the “unique demands of a borderless 24/7 asset class” while adding efficiency and liquidity to global markets.
Repo Trading Ushers in New Credit Solutions
The collaboration’s next phase goes even further—using sgBENJI tokens as collateral for repo trades and credit facilities. DBS will serve as custodian for these third-party lending platforms, effectively bringing Wall Street-style repo markets into blockchain-based finance.
Ripple’s VP of Trading and Markets, Nigel Khakoo, described it as a “game-changer,” pointing out that 2025 has been filled with firsts for traditional finance firms moving onchain. By combining regulated tokenized funds with RLUSD as a liquid mode of exchange, this setup could redefine how institutions view yield generation in digital assets.
Why It Matters for the Future of Crypto Finance
For Ripple, DBS, and Franklin Templeton, this partnership signals more than just a product launch—it’s a shift toward blending traditional money markets with blockchain-native liquidity. Investors can now rebalance portfolios across stablecoins and tokenized funds without sacrificing flexibility or safety. Franklin Templeton’s Roger Bayston highlighted that tokenization is “reshaping the financial ecosystem,” particularly in Asia’s fast-evolving digital asset markets.
In simple terms: RLUSD isn’t just another stablecoin—it’s becoming the backbone of institutional-grade crypto yield strategies.
