RLUSD supports BlackRock and Franklin Templeton tokenized fund liquidity via Securitize and DBS integration
Ripple Monthly Overview - October 10, 2025
Welcome to the Ripple Overview.
Every month, we dive deep into Ripple, XRP, XRPL, RLUSD and more to bring you the latest on ecosystem developments, updates, metrics, insights and more.
Ripple by the numbers
$XRP: $2.81 (-6.81%)
XRPL TVL: $95.64M (-1.42%)
XRP Holders: 474.88K (+1.71%)
XRPL Unique Active Accounts: 13.27K (-35.33%)
XRP Payment Volume: 267.35M (-24.13%)
These metrics are accurate upon publication. The percentages are based on month-over-month changes, unless noted otherwise.
Ripple Rundown
➡️ What happened: In September, Ripple’s RLUSD secured institutional integrations with Franklin Templeton, DBS, Securitize and others, as part of which the stablecoin will serve as both an exchange mechanism for tokenized treasury funds, and a trading pair for tokenized money market funds. This includes tokenized products like BlackRock’s BUIDL fund, VanEck’s VBILL fund, and Franklin Templeton’s sgBENJI token.
➡️ Why it matters: These integrations bring RLUSD to institutional investors, providing a regulated stablecoin that bridges traditional fund structures and 24/7 digital asset markets. This can extend the stablecoin’s utility into core institutional use cases like treasury management and collateral operations.
The Securitize integration allows holders of BlackRock’s BUIDL and VanEck’s VBILL tokenized treasury funds to instantly exchange their shares for RLUSD whenever they want. This creates an additional stablecoin off-ramp for these funds, enabling investors to access liquidity while maintaining exposure to onchain yield.
The smart contract functionality solves liquidity challenges for tokenized fund holders. Traditional fund redemptions typically require up to two business days to settle transactions, and only process them during market hours. With RLUSD, investors can rebalance in real time, with fast settlement and programmable liquidity.
Additionally, the partnership with DBS and Franklin Templeton brings sgBENJI, the token of Franklin Templeton’s tokenized money market fund, alongside RLUSD to the DBS Digital Exchange. This allows eligible DBS clients to trade RLUSD for sgBENJI tokens, enabling them to rebalance portfolios into a yield-generating asset within minutes.
An interesting aspect of the DBS partnership is the planned lending functionality: DBS says it will explore letting investors use sgBENJI tokens as collateral for credit from the bank through repurchase transactions, or from third-party platforms.
Franklin Templeton is tokenizing sgBENJI on the XRP Ledger to strengthen interoperability across networks. The company said it chose XRP Ledger for its speed, efficiency and low transaction costs.
➡️ The big picture: Regulatory clarity around RLUSD, combined with integrations with major platforms like Securitize and established banks like DBS, positions the stablecoin as essential infrastructure for institutional adoption. With a market cap of $789.44 million, and daily volumes of more than $80 million, RLUSD can scale significantly as tokenized assets grow into a multi-trillion-dollar market over the coming years.
The partnerships mark a shift in how traditional financial institutions are embracing blockchain infrastructure: Major asset managers like BlackRock, VanEck and Franklin Templeton are moving to deploy tokenized funds by integrating institutional-grade stablecoins to manage liquidity.
The collaborations also address a fundamental need in digital asset markets. Investors typically invest directly in cryptocurrencies, exposing themselves to volatility while sacrificing yield, and they have limited options to quickly rebalance when they need to. By integrating RLUSD with tokenized money market and treasury funds, institutions gain a compliant pathway to manage portfolios faster and more efficiently.
If DBS goes ahead and uses tokenized fund shares as collateral for credit, it can unlock liquidity for digital asset investors without requiring them to liquidate positions, similar to how traditional finance uses securities as collateral. And, the ability to borrow off onchain assets has the potential to bridge traditional and digital finance in practical ways.
Interested in learning more on Ripple? Here’s some updates that caught our eye:
Ripple partnered with Bahrain Fintech Bay to accelerate blockchain adoption in the country
UC Berkeley launched a new Center for Digital Assets, with $1.3M in RLUSD from Ripple’s University Blockchain Research Initiative
Explore how Ripple’s USD-backed stablecoin enables instant cross-border payments with lower fees across Africa
Learn how the U.K.-U.S. Transatlantic Taskforce for Markets of the Future is aligning policies on stablecoins and tokenization
Read about Ripple’s policy roundtable in Brussels exploring how digital assets can boost EU competitiveness
Follow Ripple and visit their website to explore additional opportunities.
XRP Ledger developments
Look into the biggest announcements, developments and more happening within the Ripple
XRPL announced the next phase of its institutional DeFi roadmap including a native lending protocol with privacy and compliance features
The Multi-Purpose Token (MPT) standard went live on mainnet, read the full whitepaper here
Read this blog by Ayo Akinyele, Ripple’s Director of Engineering, on privacy, scale and the future of XRPL
XRP Ledger version 2.6.1 is here, and it brings features like account_tx method to show MPT-related transactions for issuers
Enter the XRPL community
Want to build on the XRP Ledger? Visit the XRPL learning portal for more info on documentation and tools. Or go further down the rabbit hole:
Join the Ripple leadership at Money20/20 to learn how their technology is transforming cross-border transactions
Register for the 10th anniversary edition of the Hong Kong FinTech Week x StartmeupHK Festival 2025
Join XRPL’s Discord server here
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This information is for entertainment purposes only. It should not be considered financial advice, nor should it be used to make investment decisions. Cryptocurrencies are high risk and you should consult a financial professional before making any financial decisions. Make sure you do your own research.