Singapore's First Retail Tokenized Fund Goes Live Through DBS-Franklin Partnership

Franklin Templeton has partnered with DBS Bank to launch Singapore's first tokenized money market fund available to retail investors, lowering the barrier to entry to just $20 and marking a significant milestone in democratizing blockchain-based investment products.

Franklin's Onchain U.S. Dollar Short-Term Money Market Fund has received approval from the Monetary Authority of Singapore (MAS) to be offered as an authorized scheme. It is currently available to DBS wealth clients and accredited investors through relationship managers, with broader retail access expected in the first quarter of 2026.

The $20 minimum investment threshold represents a dramatic reduction from typical money market fund minimums, potentially opening access to younger investors and those with limited capital seeking exposure to stable, yield-generating assets enhanced by blockchain efficiency.

"By availing Singapore's first tokenized retail fund to our customers, at a minimum investment sum of just US$20, we are making it simpler and more convenient for them to start investing and build resilience through market cycles," said James Tan, group head of investment products and advisory at DBS Bank, in an announcement on Monday.

The fund utilizes Franklin Templeton's proprietary Benji Technology Platform for blockchain-integrated recordkeeping, offering real-time fund data, daily yield accrual, and enhanced liquidity through decentralized, tamper-proof infrastructure.

The tokenized product mirrors the strategy of a Luxembourg-domiciled fund that has delivered over 30 years of performance, investing in high-quality, short-term U.S. dollar assets. By enabling fractional ownership and dramatically lowering minimum investment thresholds, the structure aims to make institutional-grade investment strategies accessible to retail participants.

"As investor interest in tokenized funds and digital assets continues to accelerate, we are excited to collaborate with DBS, Singapore's largest bank, to bring this tokenized fund to the retail market," said Tariq Ahmad, head of Asia-Pacific at Franklin Templeton.

The collaboration combines DBS' digital infrastructure and Singapore market presence with Franklin Templeton's expertise in tokenized assets, developed since the firm entered the digital asset ecosystem in 2018.

Franklin Templeton has positioned itself as a leader in asset tokenization, launching the world's first U.S.-registered mutual fund using blockchain technology in 2021, followed by the first fully tokenized UCITS fund in Luxembourg in 2024. The firm recently launched tokenized funds in Hong Kong for professional investors and is an active participant in MAS' Project Guardian, exploring digital asset applications.

"By introducing tokenized fund access to retail investors in Singapore, we are demonstrating how blockchain technology can enhance operational efficiency, enable fractional ownership, and improve transparency across the investment lifecycle," said Chetan Karkhanis, senior vice president of digital assets partnership development at Franklin Templeton.