Binance and Franklin Templeton Partner to Develop Digital Asset Products
Binance announced a partnership with Franklin Templeton on Wednesday. The two companies will work together to create digital asset products for global capital markets.
Franklin Templeton manages $1.6 trillion in assets. The partnership aims to combine Binance’s crypto network with Franklin Templeton’s experience in tokenizing securities. This will help make capital markets more efficient, transparent, and accessible.
Goals of the Partnership
- Develop blockchain-based traditional financial products
- Bridge the gap between traditional finance and blockchain
- Offer solutions tailored to investor needs
Catherine Chen, Head of VIP & Institutional at Binance, said the collaboration will open new opportunities by linking crypto with traditional markets. Sandy Kaul, Franklin Templeton’s Head of Innovation, added that the partnership will speed up tokenization adoption. She highlighted their Benji Technology Platform as a key tool for institutional investors.
Background and Market Context
Franklin Templeton was an early adopter of tokenization. In 2021, it launched the Franklin OnChain US Government Money Fund (FOBXX). This fund was the first US-registered mutual fund to use a public blockchain for transactions and ownership records.
The partnership comes as more companies explore tokenized products. Nasdaq recently applied to the US Securities and Exchange Commission (SEC) to allow trading of tokenized securities alongside regular stocks. Regulators are also working on the CLARITY Act. This framework aims to set rules for blockchain assets and decentralized finance (DeFi).
BNB Price Reaction
Following the announcement, Binance’s native token BNB reached a new all-time high of $907. The price later fell slightly below $900.
