While partnership news continues to come in the cryptocurrency market, the latest news came from Ripple (XRP).
According to Reuters, Singapore’s largest bank, DBS Bank, has partnered with Franklin Templeton and Ripple.
DBS Bank has partnered with US asset manager Franklin Templeton and Ripple to offer tokenized financial services.
Under the collaboration, DBS Bank will list Franklin Templeton’s tokenized money market fund’s sgBENJI token and Ripple’s stablecoin RLUSD on the DBS Digital Exchange.
It was stated that this partnership provides trading and lending services to accredited and institutional investors using tokenized funds and stablecoins.
The bank also said that the arrangement will allow eligible investors to earn returns by switching between the two.
According to the statement, Franklin Templeton will issue the tokens on Ripple’s XRP Ledger blockchain.
“This partnership demonstrates how tokenized securities can play a role in providing greater efficiency and liquidity in global financial markets,” said Lim Wee Kian, CEO of DBS Digital Exchange.
DBS also added that it plans to explore allowing its customers to use sgBENJI tokens as loan collateral through bank-executed buyback transactions or through third-party platforms where DBS would act as the intermediary holding the pledged collateral.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/attention-xrp-community-ripple-forms-new-partnership-with-giant-names/
