JellyC, a digital asset funding supervisor with over $100 million in belongings underneath administration, mentioned it joined a program with crypto trade OKX and worldwide financial institution Commonplace Chartered (STAN) that can enable it to commerce cryptocurrencies whereas preserving its collateral safe off-platform.
The Australian firm mentioned it is going to use a Franklin Templeton tokenized cash market fund (TMMF) as its most well-liked buying and selling collateral. The collateral will likely be held by Commonplace Chartered, based on the press launch shared with CoinDesk.
JellyC mentioned the initiative will improve its capital effectivity and cut back its direct publicity to OKX, probably attracting institutional investments and mitigating the chance of an FTX-style blowup that destroyed billions in investor wealth.
“Franklin Templeton’s natively minted on-chain TMMF offers authorized certainty of fund possession in actual time, 24/7/365, and airdrops day by day as new tokens,” JellyC CEO Michael Prendiville mentioned within the e mail. “Marrying the Franklin TMMF with the Commonplace Chartered and OKX tripartite collateral construction elevates security and soundness to a stage akin to conventional finance, making this match for objective in a digital world.”
Prendville mentioned the strategy is appropriate for the wealth and funds administration sector, in addition to Australia's superannuation, or pensions financial savings, business and caters to the demand for digital asset buying and selling merchandise that leverage established banking infrastructure to make sure safe and compliant capital deployment within the cryptocurrency market.
