DBS, Franklin Templeton and Ripple Launch Tokenized Money Market Fund Solution
DBS partners with Franklin Templeton and Ripple to tokenize trading and lending solutions, leveraging the XRP Ledger and stablecoins to enhance liquidity for institutional investors.
XRP
RLUSD
Fact Check
The statement is directly and explicitly confirmed by a news report from MSN (Source 10). The headline and content state, 'DBS, Franklin Templeton, Ripple team up on tokenised money market fund trading.' Other provided evidence corroborates that each of these entities is active in the tokenized asset space (Sources 3, 6, 8), making the specific claim of a partnership highly credible.
Summary
DBS, Franklin Templeton, and Ripple have signed an MOU to launch tokenized trading and lending services, utilizing the XRP Ledger and Ripple's RLUSD stablecoin. The partnership introduces Franklin Templeton’s sgBENJI token, a money market fund, enabling efficient 24/7 trading. DBS also plans to allow sgBENJI to be used as collateral for credit, opening doors for broader liquidity pools. This move aligns with the growing institutional demand for regulated on-chain financial products.
Terms & Concepts
- Tokenized Money Market Fund: A traditional money market fund represented on a blockchain, allowing fractional ownership and enhanced transaction efficiency.
- RLUSD Stablecoin: A U.S. dollar-pegged digital currency issued by Ripple, designed for stable value and efficient blockchain transactions.
- XRP Ledger: A decentralized blockchain platform known for high speed, low transaction costs, and use in tokenized assets and cross-border payments.