וַיָּ֨סַר פַּרְעֹ֤ה אֶת־טַבַּעְתּוֹ֙ מֵעַ֣ל יָד֔וֹ וַיִּתֵּ֥ן אֹתָ֖הּ עַל־יַ֣ד יוֹסֵ֑ף וַיַּלְבֵּ֤שׁ אֹתוֹ֙ בִּגְדֵי־שֵׁ֔שׁ וַיָּ֛שֶׂם רְבִ֥ד הַזָּהָ֖ב עַל־צַוָּארֽוֹ׃
Entonces Faraón quitó su anillo de su mano, y púsolo en la mano de José, é hízole vestir de ropas de lino finísimo, y puso un collar de oro en su cuello;
Tze'enah Ure'enah
“He put a gold chain about his neck” [41:42]. He put a golden necklace around Joseph’s neck. He rode in the chariot right behind that of Pharaoh. They called out in all the streets, here rides the young king.
Rashi
ויסר פרעה את טבעתו AND PHARAOH TOOK OFF HIS RING — When the king gives his ring it is a sign that the person to whom he hands it is to be second to him in rank.
Chizkuni
ויתן אותה על יד יוסף, “he placed it on Joseph’s hand.” Pharaoh said to himself that maybe Joseph’s interpretation etc. was only designed to rid himself of Pharaoh’s supervision. This is why he entrusted him with executive power to observe whether he would work for the benefit of the state. If Joseph accepted this task, he would be convinced that he was loyal and upright, as he would know that failure would bring disastrous consequences for himself.