Binance and Franklin Templeton Launch Off-Exchange Collateral Program
- Binance collaborates with Franklin Templeton to introduce an institutional off-exchange collateral program.
- Eligible clients can use tokenized money market fund shares from Franklin Templeton’s Benji Technology Platform as collateral.
- The service utilizes Ceffu’s custody layer, enhancing security and capital efficiency in digital markets.
- This initiative allows institutional traders to leverage regulated yield-bearing assets without needing to deposit them on the exchange.
- Catherine Chen, Head of VIP & Institutional at Binance, emphasized the importance of merging digital assets with traditional finance.
The partnership aims to reduce counterparty risk while enabling institutions to earn yields on their assets securely held off-exchange. This approach addresses significant challenges faced by institutional traders in the cryptocurrency space.
With this new program, Binance is set to enhance its offerings for institutional clients by integrating traditional finance elements into the crypto ecosystem, allowing for more efficient trading operations.(Source)
