Jellyc, a digital asset investment administrator with more than $ 100 million in assets under administration, said he joined a program with Crypto Exchange OKX and International Bank Standard Chartered (STAN) that will allow him to exchange cryptocurrencies while maintaining his safe guarantee off the platform.
The Australian company said it will use a Money Franklin Templeton Tokenized (TMMF) Money Fund as its preferred negotiation guarantee. The guarantee will be in the hands of Standard Chartered, according to the press release shared with Coindesk.
Jellyc said that the initiative will improve its capital efficiency and reduce its direct exposure to OKX, attracting institutional investments and mitigating the risk of a FTX style explosion that destroyed billions in the wealth of investors.
“The TMMF in the Franklin Templeton chain provides the legal certainty of the background property in real time, 24/365, and Airdrops Daily as new tokens,” said Jellyc’s CEO, Michael Prendiville, in email. “Marrying Franklin TMMF with the tripartite collateral structure Standard Chartered and OKX raises safety and solidity at a level similar to traditional finances, which makes this suitable for the purpose in a digital world.”
Prendville said the approach is suitable for the wealth management sector, as well as Australian retirement, or pension savings, industry and meets the demand for trade products of digital assets that take advantage of the bank infrastructure established to guarantee the safe and fulfilled capital deployment in the cryptocurrency market.
