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Franklin Templeton, Binance
California-based investment manager Franklin Templeton, and Binance, a cryptocurrency exchange by trading volume and users, has announced a new institutional off-exchange collateral programme, designed to make digital markets more secure and capital-efficient. Now live, eligible clients in selected jurisdictions can use tokenized money market fund shares issued through Franklin Templeton’s Benji Technology Platform as off-exchange collateral when trading on Binance, the firm said in a statement.

The programme aims to alleviate a pain point for institutional traders by allowing them to use traditional regulated, yield-bearing money market fund assets in digital markets without parking those assets on an exchange. Instead, the value of Benji-issued fund shares is mirrored within Binance’s trading environment, while the tokenized assets themselves remain securely held off-exchange in regulated custody, the firms said in a statement. This reduces counterparty risk, allowing institutional participants to earn yield and support their trading activity without hedging on custody, liquidity, or regulatory protections.

“Since partnering in 2025, our work with Binance has focused on making digital finance actually work for institutions,” said Roger Bayston, head of digital assets at Franklin Templeton. “Our off-exchange collateral programme is just that: letting clients easily put their assets to work in regulated custody while safely earning yield in new ways. That’s the future Benji was designed for, and working with partners like Binance allows us to deliver it at scale.”

“Partnering with Franklin Templeton to offer tokenized real-world assets for off-exchange collateral settlement is a natural next step in our mission to bring digital assets and traditional finance closer together,” Catherine Chen, head of VIP and institutional at Binance, added. “Innovating ways to use traditional financial instruments on-chain opens up new opportunities for investors and shows just how blockchain technology can make markets more efficient.” 

Assets participating in the programme remain held off-exchange in custody, arrangements provided by Ceffu, with tokenized money market fund shares pledged as collateral for trading on Binance. Ceffu is an institutional-grade custody platform offering custody and liquidity solutions.

“Institutions increasingly require trading models that prioritise risk management without sacrificing capital efficiency,” said Ian Loh, CEO of Ceffu. “This programme demonstrates how off-exchange collateral can support institutional participation in digital markets while maintaining strong custody and control.”

Launching the institutional off-exchange collateral programme expands on both Franklin Templeton’s and Binance’s growing networks of off-exchange programme partners and represents another effort since announcing Franklin Templeton and Binance’s strategic collaboration in September 2025.

By using Benji to bridge tokenized money market funds, Franklin Templeton is taking trusted investment products and making them work in modern markets –allowing institutions to trade, manage risk, and move capital more efficiently as digital finance becomes an everyday part of the financial system.

Offering more tokenized real-world assets on Binance meets the increasing institutional demand for stable, yield-bearing collateral that can settle 24/7. This gives investors greater choice and enhances their trading experience on the world’s largest digital asset exchange.