Asset manager Franklin Templeton, which oversees about $1.6 trillion in assets, and Binance, the world’s largest crypto exchange by daily trading volume, have launched a new program that allows institutions to use tokenized money market funds (MMFs) as collateral when trading on Binance.
Under the collaboration, eligible clients can use tokenized fund shares issued through Franklin Templeton’s Benji Technology Platform as collateral, according to a press release viewed by The Defiant. Benji is Franklin Templeton’s proprietary blockchain-based technology stack.
The release said the assets stay off the exchange in regulated custody, while their value is "mirrored" inside Binance’s trading system. Custody and settlement are handled through Ceffu, Binance’s institutional custody partner.
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