Binance launches collateral program for institutions in partnership with Franklin Templeton
Summary
- Binance said it has launched a collateral program for institutions together with global asset manager Franklin Templeton.
- It said the program allows tokenized money market fund (MMF) shares issued by Franklin Templeton to be used as OTC collateral on Binance.
- Binance explained that, as institutional interest in real-world asset (RWA) tokenization grows, eligible customers can begin trading with MMF shares through its institutional OTC settlement service.
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Binance has launched a collateral program for institutions in partnership with global asset manager Franklin Templeton.
In a statement on its official website on the 11th (local time), Binance said it would jointly introduce an over-the-counter (OTC) collateral program for institutional investors with Franklin Templeton. The program allows tokenized money market fund (MMF) shares issued by Franklin Templeton to be used as OTC collateral on Binance. Binance said that “custody and settlement (of the collateral) will be supported by Ceffu, Binance’s crypto-specialist custody partner.”
Binance said the launch reflects institutional demand. A Binance official noted that “institutional interest in tokenization of real-world assets (RWA) is increasing,” adding that customers who meet the eligibility requirements can begin trading using MMF shares through Binance’s institutional OTC settlement service.
Binance previously signed a strategic partnership with Franklin Templeton in September last year. The new collateral program is the first outcome of that partnership.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
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