The world’s largest crypto exchange is partnering with the $1.6 trillion asset management firm Franklin Templeton.
Summary
- Binance and Franklin Templeton partnered to launch tokenized products
- Two firms hope to bridge tradFi and DeFi, giving investors exposure to crypto
- Franklin Templeton hopes to bring tradFi standards to blockchain platforms
Two giants from the crypto and tradFi space have announced a major collaboration. On Wednesday, September 10, Binance, the largest global crypto exchange, and the $1.6 trillion asset manager Franklin Templeton announced a partnership to develop new digital products.
The two companies did not reveal what the new products would be. However, they stressed that they would leverage Franklin Templeton’s experience in compliant tokenization while utilizing the efficiencies of blockchain technology.
According to Roger Bayston, EVP and Head of Digital Assets at Franklin Templeton, investors are increasingly interested in digital assets. Traders want to stay ahead of the curve, he explained, adding that these assets need to be accessible and dependable.
“By working with Binance, we can deliver breakthrough products that meet the requirements of global capital markets and co-create the portfolios of the future,” said Roger Bayston of Franklin Templeton. “Our goal is to take tokenization from concept to practice for clients to achieve efficiencies in settlement, collateral management, and portfolio construction at scale.”
Blockchain is going mainstream: Franklin Templeton
Blockchain is increasingly mainstream, noted Sandy Kaul, EVP and Head of Innovation at Franklin Templeton. The collaboration with Binance will help bring this technology to more investors, she noted.
“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,” Sandy Kaul, Franklin Templeton.