On December 17, SBI Ripple Asia and the Doppler Finance protocol—an XRPL-native yield project—announced a Memorandum of Understanding to jointly study interest-bearing offerings backed by XRP and to explore Real World Asset tokenization on the XRPL. This milestone marks SBI Ripple Asia’s first collaboration with an XRPL-native yield protocol, signaling a deliberate shift toward on-chain income generation for institutional participants.

The agreement aims to build a regulatorily compliant, transparent yield infrastructure for institutional clients. Doppler Finance will supply the on-chain yield framework, while SBI Digital Markets, supervised by the Monetary Authority of Singapore, will serve as an institutional-grade custodian with segregated custody for client assets.

Viewed as a strategic step to deepen institutional involvement in the XRPL ecosystem, the collaboration leverages the regulatory and ecosystem strengths of SBI Group and Ripple in Asia. The partners aim to accelerate XRPL-based yield and RWA tokenization to meet demand for tokenized assets in mature markets such as Japan and Singapore.