Binance and Franklin Templeton join forces to build digital asset products aimed at bridging the gap between traditional markets and crypto.
The two companies will combine the Franklin Templeton’s work on tokenizing securities with Binance’s Trade Infrastructure and Global Investorbase, according to the Tuesday declaration. The focus of two companies’ tokenization efforts is “not related to the United States,” said a Binance representative via E -Mail.
The goal, said both companies, is to create products that offer efficient settlement, transparent pricing and access to competitive yields for a wide set of investors.
Franklin Templeton, which manages $ 1.6 trillion in assets, has developed blockchain-based tools such as its Benji platform for tokenized foundations. Last year, the traditional financial company announced that its Onchain US Government Money Market Fund could be traded on Coinbas’s basic blockchain.
“We do not see Blockchain as a threat to older systems, but as an opportunity to reimburse them again,” said Sandy Kaul, head of innovation at the company. She added that working with Binance could accelerate the adoption of tokenized assets in institutional qualities.
Binance, which serves more than 280 million users, framed the partnership as part of its efforts to open traditional capital markets for cryptoin vests. “Our strategic collaboration with Franklin Templeton promotes our obligation to bridge crypto with traditional markets and open up greater opportunities,” said Catherine Chen, head of VIP and institutional clients at Binance.
Specific products are expected to be revealed later in the year, companies said in a press release.
