Overview

• Signed on Sept. 18, the agreement will see Franklin Templeton’s sgBENJI issued on the XRP Ledger and listed on DBS Digital Exchange alongside Ripple’s RLUSD.
• DBS says the configuration will let institutional clients shift in minutes between a yield‑bearing money market fund token and a cash‑like stablecoin within a bank‑run venue.
• DBS is evaluating a second phase that could allow sgBENJI to be pledged as collateral for repurchase agreements or third‑party credit facilities with the bank acting as collateral agent.
• Franklin Templeton selected the XRP Ledger for speed, efficiency, and low transaction costs, with the issuance intended to enhance cross‑chain interoperability for its tokenized funds.
• The collaboration targets accredited and institutional investors and is framed as a step toward improving liquidity, settlement flexibility, and capital efficiency for on‑chain real‑world assets.