One of Singapore’s leading banks, DBS, along with Ripple Labs and Franklin Templeton, has announced the launch of a joint institutional platform for trading and lending based on tokenized funds.
This is reported by Business • Media
Innovative Products Based on the XRP Ledger Blockchain
The new solution is built on the XRP Ledger blockchain technology using the Ripple USD (RLUSD) stablecoin and the tokenized sgBENJI fund from Franklin Templeton. The sgBENJI token represents a share in the Franklin OnChain U.S. Government Money Fund, which focuses on liquid U.S. government assets. In the near future, the sgBENJI token and RLUSD will be added to the listing on the DBS Digital Exchange (DDEx), allowing investors to quickly convert assets to optimize portfolios and respond promptly to market volatility.
Opportunities for Lending and Liquidity Expansion
As part of the next phase of the project, DBS is considering the use of sgBENJI tokens as collateral. This will open up new ways for clients to obtain loans through REPO transactions and attract liquidity through third-party platforms with DBS acting as the collateral custodian. This approach will facilitate greater access to liquidity without compromising security for lenders.
To support the development of the ecosystem, the partners also announced the tokenization of sgBENJI directly on the XRP Ledger network. This will ensure more flexible and efficient use of assets in the digital finance segment.
“This partnership demonstrates how tokenized securities can meet the needs of the 24/7 digital asset market,” said Lim Wee Kian, CEO of DBS Digital Exchange.
He also emphasized that the collaboration highlights the bank’s commitment to providing reliable institutional solutions for clients’ digital portfolios.
Previously, DBS had already announced the issuance of tokenized bonds based on Ethereum technology, indicating the bank’s consistent development in the field of digital finance and the implementation of modern financial instruments.