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Quick take:
The mutual agreement will see Franklin Templeton tap into Binance’s huge user base of over 280 million.
Binance will leverage Franklin Templeton’s expertise in the compliant tokenization of securities.
Both companies aim to build digital asset initiatives and solutions tailored for a broad range of investors.
Binance, the world’s largest crypto exchange by user base and transaction volume, has teamed up with the $1.6 trillion global asset management company, Franklin Templeton, to create innovative digital asset products and solutions for investors.
The companies did not disclose the terms of the deal. The partnership will see Franklin Templeton tap into Binance’s huge user base of over 280 million, while Binance will leverage Franklin Templeton’s expertise in the compliant tokenization of securities.
According to the announcement on Franklin Templeton’s website, the goal is to deliver innovative solutions to meet the evolving needs of investors by bringing greater efficiency, transparency, and accessibility to capital markets with competitive yield generation and settlement efficiency.
Commenting on the partnership, Sandy Kaul, EVP, Head of Innovation at Franklin Templeton, said in a statement: “We see blockchain not as a threat to legacy systems, but as an opportunity to reimagine them. By working with Binance, we can harness tokenization to bring institutional-grade solutions like our Benji Technology Platform to a wider set of investors and help bridge the worlds of traditional and decentralized finance.”
Roger Bayston, EVP and Head of Digital Assets at Franklin Templeton, said that while investor demand for digital assets continues to grow, the assets need to be accessible and dependable. He believes that the partnership is designed to meet the requirements of the global financial markets and “co-create the portfolios of the future.”
“Our goal is to take tokenization from concept to practice for clients to achieve efficiencies in settlement, collateral management, and portfolio construction at scale,” he said.
Catherine Chen, Head of VIP & Institutional at Binance, said the partnership “furthers our commitment to bridge crypto with traditional capital markets and open up greater possibilities.”
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