The cooperation between traditional financial giants and the cryptocurrency industry is still ongoing Yesterday, Franklin Templeton reached a cooperation agreement with Binance, allowing institutional clients to use Franklin Templeton's tokenized "Money Market Fund (MMF)" shares as collateral in third-party custodian Ceffu during Binance transactions. The full name of this fund is Franklin On Chain America Government Money Fund, abbreviated as FOBXX. As a mutual fund under the 1940 Investment Company Act in the United States, it was the first SEC registered fund to be listed on a public chain, with a scale of $897 million, deployed on multiple chains such as Stellar, @ BNBChain, Ethereum, etc. After this cooperation with Binance, it will make a big breakthrough in the trading application scenario, transforming from a wealth management product into a real financial instrument. Why is it an 'off exchange' collateral? There are two benefits to it 1/Safety: The assets are still held under the supervision of Franklin Templeton and do not need to be deposited into the exchange. Avoiding counterparty risks, institutional users can rest assured. 2/Efficiency: With assets still in place, money market funds typically generate interest income of 3.5-4.5%. At the same time, it can also be mortgaged to Ceffu for asset mapping at @ binancezh, lending out more liquidity (leverage/trading positions), and eating two fish with one fish. This is actually similar to the previous collaboration between BlackRock BUIDL and Binance (previously introduced: https://(x.com)/SeaBitcoin/status/199369064305168756), which is a two-step strategy for traditional funds (with underlying interest bearing assets such as US Treasury bonds). The first step is to tokenize and go live on the chain; The second step is to collaborate with the leading CEX to further enhance liquidity in scenarios such as Binance ecosystem and on chain settlement. Recently, Binance has added many perpetual contracts from US stock giants, and high-quality RWAs continue to invade the survival space of altcoins. it's too hard.