Financial powerhouses Ripple, DBS, and Franklin Templeton collaborate to initiate tokenized trading and lending services for institutional clients.
In a move to enhance capital management efficiency for investors, Ripple has launched a new venture that provides regulated tools for managing capital. This venture aligns with Ripple's recent efforts to position its stablecoin, RLUSD, as a global settlement tool.
The alliance between Ripple, DBS, and Franklin Templeton is enabling institutional access to tokenized financial instruments through a unified ecosystem. This collaboration allows accredited and institutional clients to trade between Ripple's Dollar stablecoin (RLUSD) and Franklin Templeton's tokenized money market fund (sgBENJI) on the DBS Digital Exchange.
Ripple's RLUSD stablecoin is gaining ground, with Tembo, the EV unit of VivoPower, accepting RLUSD for vehicle purchases. This marks one of the first moves by an automaker to adopt RLUSD, signifying its growing acceptance in the market.
Ripple's RLUSD stablecoin, launched last December, is also being safeguarded by BNY Mellon, with the reserves held in cash and US Treasuries. The target audience for RLUSD includes enterprises and financial institutions seeking stable, dollar-based digital liquidity.
Moreover, the new venture reflects growing institutional interest in tokenized assets. With tokenized lending and trading on one platform, users can reduce reliance on multiple intermediaries, streamlining transactions and enhancing efficiency.
The growing adoption of RLUSD and the collaborations surrounding it underscore Ripple's commitment to fostering a global, interconnected financial ecosystem. As more institutions embrace the use of stablecoins like RLUSD, we can expect to see further developments in this space.
