RLUSD Hits New Milestone as Ripple Joins Forces With DBS and Franklin Templeton
DBS Bank, the biggest financial institution in Southeast Asia, has partnered with Franklin Templeton and Ripple to launch buying and selling and lending options based mostly on tokenized cash market funds and RLUSD.
Ripple introduced the partnership as RLUSD’s market capitalization reached a brand new all-time high in September.
Ripple Expands RLUSD Use Cases in September
According to Ripple, DBS, and Franklin Templeton signed a memorandum of understanding to introduce buying and selling and lending options constructed on tokenized cash market funds (MMFs) and Ripple’s RLUSD stablecoin.
Investors can buy sgBENJI tokens – representing Franklin Templeton’s cash market fund – on DBS Digital Exchange utilizing the RLUSD stablecoin. In addition, Franklin Templeton will tokenize sgBENJI on the XRP Ledger, Ripple’s public, enterprise-grade blockchain.
“2025 has been marked by a sequence of industry-firsts in relation to conventional monetary establishments shifting onchain – and the linkup between Ripple, DBS and Franklin Templeton to allow repo trades for a tokenised cash market fund with a regulated, steady and liquid mode of change such as RLUSD is actually a game-changer,” Nigel Khakoo, VP and Global Head of Trading and Markets at Ripple, said.
Data from DefiLlama exhibits that RLUSD’s market capitalization hit a brand new document of $729 million in September. This marks greater than a tenfold enhance for the reason that begin of the 12 months. Some analysts predict that RLUSD’s market cap might quickly surpass $1 billion following this collaboration.
However, this determine stays modest in comparison with USDT’s $170 billion market cap or USDC’s $73 billion.
RWA data signifies that RLUSD at present has about 36,000 holders, accounting for under 0.26% of the whole stablecoin market capitalization.
In September, Ripple also partnered with Chipper Cash, VALR, and Yellow Card to launch RLUSD throughout African markets. Chainalysis reported that Sub-Saharan Africa has emerged as the third-fastest rising area for crypto, pushed by sturdy retail exercise within the first half of 2025.
Last month, Ripple and SBI Holdings signed a memorandum of understanding to distribute RLUSD by way of the SBI VC Trade platform.
These institutional partnerships spotlight Ripple’s efforts to increase RLUSD adoption worldwide.
With these developments, RLUSD’s development potential seems extremely promising.
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