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Tokenized money market fund trading and lending solutions that utilize Ripple’s XRP ledger and stablecoins, such as Ripple USD (RLUSD), are now accessible to accredited and institutional investors through a partnership among Ripple, DBS Group, and asset manager Franklin Templeton.

XRP’s price surged following the announcement. Additionally, following the Federal Reserve’s interest rate cut on Wednesday, the bullish outlook for cryptocurrencies was reflected in the Ripple token.

This collaboration follows the signing of a memorandum of understanding by DBS, Franklin Templeton, and Ripple to promote the use of tokenized assets on-chain.

Franklin Templeton’s token sgBENJI, representing Franklin Onchain U, will be listed alongside RLUSD on DBS’s digital asset exchange, DDEX. The asset management company’s tokenized money market fund is called the Dollar Short-Term Money Market Fund.

Eligible DBS clients will be able to exchange Ripple’s stablecoin RLUSD for sgBENJI tokens once it is listed on DDEX, providing market access to the yield on their assets.

Nigel Khakoo, VP and Global Head of Trading and Markets at Ripple, stated, “2025 has been marked by several industry-firsts when it comes to traditional financial institutions moving onchain – and the partnership between Ripple, DBS, and Franklin Templeton to enable repo trades for a tokenized money market fund with a regulated, stable, and liquid mode of exchange such as RLUSD is truly a game-changer.”