Franklin Templeton Launches Tokenized Money Market Fund on XRP Ledger
The asset manager partnered with DBS Bank and Ripple to bring a tokenized fund and RLUSD settlement to the XRP Ledger network.
Franklin Templeton announced the deployment of its tokenized money market fund on the XRP Ledger in September 2025, collaborating with Singapore's DBS Bank and Ripple. Holding over $736 million at the time of the announcement, the fund trades on DBS's digital exchange using Ripple's dollar-pegged stablecoin, RLUSD, with exploratory plans to allow tokenized shares to serve as collateral for credit facilities.
The deployment adds to growing institutional activity across leading blockchains. In November 2024, BlackRock expanded its tokenized dollar liquidity fund to Avalanche, where total real-world assets have surpassed $2.1 billion. The XRP Ledger also recorded $2.2 billion in tokenized commodities in 2026, outpacing Ethereum's $1.6 billion total in that category.
The direct financial link between tokenized fund activity and token demand remains confined to transaction fees, which are paid in XRP on the XRP Ledger and AVAX on Avalanche. As of October 2026, XRP was priced at $1.41, roughly 61% below its record high, while AVAX stood at $10.55, down 93% from its historical peak.
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