Overview
- In the newly launched program, eligible institutions can pledge tokenized shares of Franklin Templeton money market funds issued via the Benji platform as collateral for trading on Binance without depositing assets on the exchange.
- Custody and settlement are handled by Ceffu, which holds the underlying assets off-exchange while Binance mirrors their value for use as margin across spot and derivatives markets.
- The design targets long-standing institutional concerns over exchange custody by keeping collateral in regulated safekeeping and allowing clients to continue earning interest on money market holdings.
- Participation is restricted to sophisticated institutional clients that meet Binance’s risk management and trading criteria, reflecting the program’s institutional focus.
- The launch marks the first live product from the firms’ September 2025 partnership and aligns with the broader trend of tokenizing real-world assets, with Franklin’s FOBXX cited at about $896 million in assets per RWA.xyz.