Under the MOU, DBS Digital Exchange (DDEx) will list sgBENJI, the token of Franklin Templeton’s tokenised money market fund, Franklin onchain US dollar short-term money market fund. Listed alongside RLUSD, sgBENJI will allow eligible DBS clients to trade RLUSD for sgBENJI tokens. This will enable them to rebalance their portfolios into a relatively stable asset 24/7 while earning yield during periods of volatility.
DBS, Franklin Templeton and Ripple have signed a memorandum of understanding (MOU) to launch trading and lending solutions powered by tokenised money market funds on the XRP ledger blockchain and Ripple’s stablecoin, Ripple USD (RLUSD).
The partnership comes amid growing interest in the digital asset class, with some 87% of institutional investors expecting to make investments into digital assets by 2025, says the joint release, referring to an EY-Parthenon and Coinbase report.
