Hassan Maishera
TL;DR
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Binance has partnered with Franklin Templeton to explore the tokenization of securities.
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BNB token hit a new all-time high of $906 on Wednesday.
Binance and Franklin Templeton Enter a Strategic Partnership
Binance, the world’s leading cryptocurrency exchange by daily trading volume, announced on Wednesday that it has entered into a strategic partnership with Franklin Templeton, a leading crypto ETF issuer.
The two entities will collaborate to explore the tokenization of securities combined with a global trading infrastructure. The partnership will see Binance launch security tokenization products later this year.
While commenting on this partnership, Roger Bayston, Franklin Templeton’s head of digital assets, said,
“Our goal is to take tokenization from concept to practice for clients to achieve efficiencies in settlement, collateral management, and portfolio construction at scale. By working with Binance, we can deliver breakthrough products that meet the requirements of global capital markets and co-create the portfolios of the future.”
The partnership will see Franklin Templeton deliver expertise in the compliant tokenization of securities, while Binance will provide its global trading infrastructure and investor reach.
The crypto exchange stated that the goal is to deliver innovative solutions to meet the evolving needs of investors. This can be achieved by bringing greater efficiency, transparency, and accessibility to capital markets with competitive yield generation and settlement efficiency
Binance is currently the largest cryptocurrency exchange in the world, processing over $22 billion in daily transaction volume.
BNB Hits a New All-time High
Binance’s BNB token has been one of the best performers among the top 10 cryptocurrencies by market cap in recent weeks. It has now hit a new all-time high of $906, surpassing the $900 mark a few hours ago.
Thanks to this latest milestone, BNB’s market cap has now hit $125 billion. BNB is the fifth-largest crypto by market cap, behind Bitcoin, Ethereum, XRP, and Tether (USDT).
