JellyC, a digital asset investment firm based in the APAC region, has joined a tripartite collateral programme launched by OKX and Standard Chartered. The collaboration allows JellyC to utilize cryptocurrencies and Franklin Templeton’s tokenized money market fund (TMMF) as off-exchange collateral while trading on OKX. Assets will be securely custodied by Standard Chartered, a globally systemically important bank (G-SIB).
The core of the innovation lies in Franklin Templeton’s natively minted tokenized money market fund. “Franklin Templeton’s natively minted on-chain TMMF provides legal certainty of fund ownership in real time, 24/7/365, and airdrops daily as new tokens,” explained Michael Prendiville, CEO of JellyC. “Marrying the Franklin TMMF with the Standard Chartered and OKX tripartite collateral structure elevates safety and soundness to a level akin to traditional finance, making this fit for purpose in a digital world.”
This arrangement targets significant institutional challenges around capital efficiency and asset security. By keeping collateral off-exchange, institutions reduce counterparty risk without sacrificing liquidity or trading capability.
OKX Australia CEO Kate Cooper emphasized the broader significance of the collaboration, noting, “Institutional traders seeking exposure to crypto markets have historically faced a challenging trade-off between market access and asset security, something we explored in-depth in research we published in collaboration with Blockworks Research. Along with world-class partners, we’ve built the infrastructure that institutions have been waiting for combining deep liquidity with institutional-grade custody and compliance.”
JellyC currently offers a diverse set of digital asset strategies, including market-neutral funds, infrastructure staking vehicles, and multi-strategy investments under its Bluebottle funds. The firm sees growing interest from Australia’s superannuation sector and institutional wealth managers looking for secure and compliant ways to enter digital asset markets.
The collaboration highlights how tokenization is steadily moving from concept to institutional reality. Franklin Templeton, already recognized for its expertise in tokenizing real-world assets (RWAs), now sees its blockchain-based financial instruments integrated directly into institutional trading operations, potentially setting the standard for future digital asset collateral solutions.
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