DDEx will list FT’s sgBENJI token alongside the Ripple USD stablecoin.
DBS has partnered with asset manager Franklin Templeton and financial services company Ripple to provide new lending and trading solutions powered by tokenisation, blockchain technology, and stablecoins.
The new solutions will be powered by tokenised money market funds on the XRP ledger blockchain and stablecoins such as Ripple USD (RLUSD), according to a press release.
DBS Digital Exchange (DDEx) will list sgBENJI – the token of Franklin Templeton’s tokenised money market fund, Franklin Onchain U.S. Dollar Short-Term Money Market Fund – alongside RLUSD.
Eligible DBS clients can trade RLUSD for sgBENJI tokens, enabling them to rebalance their portfolios into a relatively stable asset 24/7 within minutes.
Meanwhile, Franklin Templeton will tokenise the sgBENJI on the XRP Ledger, a public enterprise-grade blockchain.
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