Key Takeaways
- • Franklin Templeton and DBS Bank launched Singapore's first tokenized money market fund (Franklin OnChain US Dollar Short-Term Money Market Fund), approved by the Monetary Authority of Singapore as an authorized scheme, with minimum investment eventually as low as $20.
- • The tokenized fund mirrors a 30-year track record Luxembourg-domiciled strategy and is now available to DBS wealth clients and accredited investors, with retail access expected in Q1 2026.
- • The partnership integrates Franklin Templeton's proprietary Benji Technology Platform for blockchain recordkeeping with DBS's Digital Exchange, enabling yield-earning swaps between the tokenized fund and Ripple's RLUSD stablecoin.
- • Franklin Templeton manages $1.69 trillion in assets under management (as of October 31, 2025) and signals the transition from tokenization sandbox environments to institutional-grade digital asset solutions at tier-1 financial institutions.
Summary
Franklin Templeton, managing $1.69 trillion in assets, has partnered with Singapore's DBS Bank to launch the city-state's first tokenized retail money market fund, representing a significant milestone in blockchain-enabled securities infrastructure. The Franklin OnChain US Dollar Short-Term Money Market Fund received approval from the Monetary Authority of Singapore (MAS) as an authorized scheme and leverages fractional ownership via blockchain technology to enable investment minimums as low as $20—substantially below traditional fund entry points.
The fund replicates the investment strategy of a Luxembourg-domiciled FTIF Franklin US Dollar Short-Term Money Market Fund with a three-decade performance track record. Currently, the product is accessible to DBS's wealth clients and accredited investors through relationship managers, with broader retail distribution anticipated in the first quarter of 2026. The tokenized structure is built on Franklin Templeton's proprietary Benji Technology Platform, which integrates blockchain-based recordkeeping with traditional fund operations.
The partnership extends beyond basic tokenization. DBS and Franklin Templeton have enabled eligible investors to earn yield by acquiring the fund's sgBENJI token through DBS's Digital Exchange using Ripple's RLUSD stablecoin, creating a direct swap mechanism between tokenized securities and regulated digital currency. According to James Tan, group head of investment products and advisory at DBS Bank, "Tokenization is reshaping the way people invest, and we want to make sure these benefits extend beyond institutional investors." Tariq Ahmad, head of APAC at Franklin Templeton, emphasized that the collaboration brings tokenized fund exposure to the retail market as investor demand for digital assets accelerates across the Asia-Pacific region.
The initiative underscores the maturation of tokenized finance infrastructure, transitioning from experimental sandbox deployments to production-grade offerings from tier-1 financial institutions. This collaboration between a global asset manager and a major Asian bank suggests institutional confidence that blockchain-based fund distribution and settlement mechanisms can deliver efficiency gains and expanded retail accessibility while maintaining regulatory compliance.
The fund replicates the investment strategy of a Luxembourg-domiciled FTIF Franklin US Dollar Short-Term Money Market Fund with a three-decade performance track record. Currently, the product is accessible to DBS's wealth clients and accredited investors through relationship managers, with broader retail distribution anticipated in the first quarter of 2026. The tokenized structure is built on Franklin Templeton's proprietary Benji Technology Platform, which integrates blockchain-based recordkeeping with traditional fund operations.
The partnership extends beyond basic tokenization. DBS and Franklin Templeton have enabled eligible investors to earn yield by acquiring the fund's sgBENJI token through DBS's Digital Exchange using Ripple's RLUSD stablecoin, creating a direct swap mechanism between tokenized securities and regulated digital currency. According to James Tan, group head of investment products and advisory at DBS Bank, "Tokenization is reshaping the way people invest, and we want to make sure these benefits extend beyond institutional investors." Tariq Ahmad, head of APAC at Franklin Templeton, emphasized that the collaboration brings tokenized fund exposure to the retail market as investor demand for digital assets accelerates across the Asia-Pacific region.
The initiative underscores the maturation of tokenized finance infrastructure, transitioning from experimental sandbox deployments to production-grade offerings from tier-1 financial institutions. This collaboration between a global asset manager and a major Asian bank suggests institutional confidence that blockchain-based fund distribution and settlement mechanisms can deliver efficiency gains and expanded retail accessibility while maintaining regulatory compliance.
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