Franklin Templeton, Ripple Join Forces To Launch Tokenized Money Market Funds For Accredited Investors Of This Asian Banking Giant

Group 1 - DBS Group Holdings, Franklin Templeton, and Ripple Labs have partnered to offer trading solutions for accredited investors using tokenized money market funds and U.S. dollar-pegged stablecoins [1][2] - The collaboration will enable the listing of Franklin Templeton's sgBENJI token on the DBS Digital Exchange, with Ripple's USD stablecoin also being listed [2] - Eligible DBS clients can trade RLUSD for sgBENJI tokens, allowing for portfolio rebalancing into stable assets 24/7 while earning yield during market volatility [3] Group 2 - Franklin Templeton launched a blockchain-powered money market fund in 2023, with total assets exceeding $736 million, primarily backed by government securities and cash [4] - Each share of the fund is represented by one BENJI token, and Franklin Templeton is pursuing a spot exchange-traded fund tracking the XRP token [4]