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]

Core Insights - DBS Bank has signed a Memorandum of Understanding (MOU) with Franklin Templeton and Ripple to list a tokenized money market fund on DBS Digital Exchange, aimed at providing trading and lending solutions for accredited and institutional investors [1][2] - The partnership will utilize tokenized money market funds on the XRP Ledger blockchain and Ripple's RLUSD stablecoin, allowing clients to manage their digital asset portfolios more effectively in volatile market conditions [2][3] - The initiative is expected to enhance efficiency and liquidity in both Singapore and global markets, with DBS planning to enable sgBENJI tokens to be used as collateral for credit [3][4] Industry Context - The collaboration marks a significant step for traditional financial institutions moving on-chain, with Ripple's VP highlighting the potential of this partnership to facilitate repo trades for a tokenized money market fund [5] - Singapore's regulatory environment is noted for its strict yet clear crypto regulations, ensuring compliance with AML/KYC and investor protection rules, setting a benchmark for best practices in the region [6] - DBS has been actively involved in tokenized finance, already offering tokenized structured notes on the Ethereum blockchain and participating in industry trials under Project Guardian by the Monetary Authority of Singapore [7]