Franklin Templeton, a global investment management firm, and leading cryptocurrency exchange Binance announced a new institutional off-exchange collateral program on Wednesday (February 11).

A new partnership between the two will enable eligible institutional clients to use tokenized shares of Franklin Templeton’s money market funds as collateral when trading on Binance, with custody support from Ceffu, Binance’s institutional crypto-native custody partner.

Under the terms of the partnership, Binance will expand its offerings by allowing tokenized money market fund shares issued through Franklin Templeton’s Benji Technology Platform to meet the growing institutional demand for stable, yield-bearing collateral that can settle…