Singapore’s largest bank, DBS, is partnering with asset manager Franklin Templeton and Ripple to provide institutional trading of tokenized assets.
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Singapore’s largest bank, DBS Group, has partnered with asset manager Franklin Templeton and Ripple to offer institutional trading and lending for tokenized assets on the XRP Ledger. The collaboration was announced on Sept. 18. It will include listing Franklin Templeton’s sgBENJI money market fund token and Ripple’s RLUSD stablecoin on the DBS Digital Exchange.

According to a Reuters report, the integration is designed to increase market efficiency and liquidity. The platform will allow accredited investors to swap between the two tokenized assets and earn yield, with DBS also exploring options to use the sgBENJI token as collateral for credit.

RWA Market Sees Strong Growth

The partnership launches into a rapidly growing market for Real-World Assets (RWA). The total value of on-chain RWAs recently surpassed $30.2 billion, which marks a nearly 10% increase over the past 30 days, according to data from rwa.xyz. This growth is distributed across multiple blockchains. Meanwhile, networks like Ethereum and Polygon hold over $9.1 billion and $1.1 billion in RWA value, respectively.

Franklin Templeton is already a significant player in this sector. Its existing Franklin OnChain US Government Money Fund, tokenized as BENJI, currently holds over $736 million in assets, making it one of the largest tokenized funds in the market. This new initiative with DBS and Ripple expands its footprint further and trails closely behind last week’s news, where we saw that Franklin Templeton and Binance come together to build new types of digital assets.

The other partners have also established their digital asset strategies. In August, DBS launched tokenized structured notes on the Ethereum network, while Ripple has also begun deploying its new stablecoin, including a recently announced $25 million donation.

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