Leading financial entities Ripple, DBS Bank, and Franklin Templeton collaborate to debut tokenized repurchase agreement (repo) markets via the XRP Ledger.
Ripple, DBS Bank, and Franklin Templeton Partner to Expand Crypto Services and Liquidity Options
Ripple, the global financial technology company, has announced a groundbreaking partnership with DBS Bank and Franklin Templeton. This collaboration aims to revolutionise the digital asset sector by introducing trading and lending products on the XRP Ledger and Ripple's stablecoin, Ripple USD (RLUSD).
The partnership, which was announced in September 2025, seeks to address a growing need among digital asset investors who currently lack yield-generating mechanisms. According to recent survey data shared by Ripple, institutional investors expect to allocate a significant portion of capital to the digital asset sector by 2025.
Under the terms of the agreement, accredited and institutional clients of DBS will be able to trade between RLUSD and sgBENJI, a token from Franklin Templeton's Onchain US Dollar Short-Term Money Market Fund. They will also be able to perform 24/7 portfolio rebalancing into more stable assets. The partnership aims to enable repo transactions, allowing clients to use sgBENJI tokens as collateral to unlock liquidity.
DBS Digital Exchange (DDEx) will list sgBENJI alongside RLUSD. DBS will act as a trusted agent holding the collateral in the repo transactions. Investors will be able to obtain credit either through repurchase agreements directly with DBS or via third-party platforms.
The development further expands Ripple's presence in the European market. The partnership strengthens Ripple's relationship with BBVA, which was already established through its operations in Switzerland and Turkey. Ripple has recently signed a custody deal with Spanish banking giant BBVA, enabling BBVA Spain to adopt Ripple Custody for its crypto services.
Franklin Templeton will tokenize sgBENJI on the XRP Ledger and add to its existing blockchain integrations. Nigel Khakoo, Ripple's VP and Global Head of Trading and Markets, views the partnership with DBS Bank and Franklin Templeton as a "game-changer" in the industry.
The MiCA framework in Europe is preparing for implementation, which is expected to provide a regulatory backbone for the digital asset sector. This partnership comes at a crucial time, as the digital asset sector continues to grow and evolve, requiring robust regulatory frameworks to ensure institutional safeguards around pledged assets.
In conclusion, the partnership between Ripple, DBS Bank, and Franklin Templeton marks a significant step forward in the expansion of liquidity options and the development of the digital asset sector. This collaboration is set to provide institutional investors with a secure and efficient platform for trading and lending in the digital asset market.
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