To ensure institutional compliance, SBI Digital Markets will provide segregated, MAS-regulated custody for all client assets involved in the initiative.
SBI Ripple Asia is working with Doppler Finance on plans to offer yield products linked to XRP and to expand real-world asset tokenisation on the XRP Ledger.
The firms said the arrangement is a Memorandum of Understanding (MOU) and is SBI Ripple Asia’s first deal with a protocol that is native to XRPL.
Building XRP-Based Yield Products
The priority is to build yield infrastructure that can be used by institutional clients. Doppler will provide the on-chain framework and product design, with an emphasis on compliance and transparency.
Custody will be handled by SBI Digital Markets, the group’s Singapore-based unit regulated by the Monetary Authority of Singapore. The firms said client assets would be held in segregated custody.
The deal is aimed at pushing XRPL beyond its traditional payments use case. Compared with other smart-contract networks, XRPL has had relatively limited on-chain yield activity, and the partners are positioning this as a step toward making XRP usable as a yield-bearing asset in a structure institutions can accept.
For Doppler, the tie-up connects it to SBI’s broader digital-asset network in Asia and to the wider SBI Holdings and Ripple ecosystem. For SBI Ripple Asia, it is a way to bring a specialised XRPL protocol into its institutional product pipeline.
The announcement comes as more financial firms test tokenised assets and blockchain-based yield products, with Japan and Singapore often cited as markets where regulatory clarity is improving.
SBI also launched Japan’s first Bitcoin and XRP ETF, as well as two crypto-based ETFs, one that allocates 51% to gold ETFs and 49% to crypto ETFs, as Crypto News Australia reported.
Talking about XRP ETFs, Ripple’s CEO Brad Garlinghouse recently highlighted the first 30 days of net inflows since launching in November, attracting more than US$1 billion (AU$1.53 billion).
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