[Digital Today reporter Chi-gyu Hwang] Asset manager Franklin Templeton will integrate its tokenised money market fund BENJI into the institutional on-chain execution platform MoonPay Trade.
According to a recent report by The Block, the partnership will allow institutional users to exchange stablecoins such as USDC and USDT for BENJI through MoonPay’s on-chain trading infrastructure.
BENJI holders, in addition to converting to stablecoins, will be able to use the tokenised fund in various on-chain workflows including treasury management, liquidity provision, collateral and portfolio rebalancing.
Sandy Kaul (샌디 카울), head of innovation and digital assets at Franklin Templeton, said, "Tokenised money market funds only become useful when they have the speed and programmability of the broader digital asset ecosystem," adding, "Our partnership with MoonPay will be a trusted gateway for institutions to move between stablecoin liquidity and tokenised funds." MoonPay Trade handles access to more than 200 blockchains through a single API, as well as cross-chain routing, trade execution, settlement, collateral movement and tokenised asset trading.
Chi-gyu Hwang
delight@d-today.co.kr