Binance and Franklin Templeton combine to build digital asset products that aim to fill the gap between traditional markets and crypto.
The two companies will combine the work of Franklin Templeton in tokenizing titles with the Binance commercial infrastructure and the global investor base, according to the Tuesday press release. The objective of the tokenization efforts of two companies is “not linked to the United States,” said a binance representative by e-mail.
The objective, said the two companies, is to create products that offer efficient settlement, transparent prices and access to competitive yields for a large set of investors.
Franklin Templeton, who manages 1.6 billion of dollars of active ingredients, has developed tools based on blockchain such as his Benji platform for token funds. Last year, the traditional financing company announced that its American government money market could be negotiated on the basic blockchain in Coinbase.
“We consider blockchain not as a threat to inherited systems, but as an opportunity to reinvent them,” said Sandy Kaul, responsible for innovation with the company. She added that working with Binance could accelerate the adoption of token assets of institutional quality.
Binance, which serves more than 280 million users, supervised the partnership as part of its efforts to open traditional capital markets to cryptographic investors. “Our strategic collaboration with Franklin Templeton promotes our commitment to reject crypto with traditional markets and to open greater possibilities,” said Catherine Chen, head of VIP and Binance VIP customers.
Specific products should be revealed later this year, companies said in a press release.
