Binance Coin hits record $907 after Franklin Templeton digital asset partnership

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Binance Coin (BNB) reached a new all-time high of $907 on Friday, surpassing its previous peak of $900. The rally came after Binance announced a collaboration with global investment firm Franklin Templeton to develop digital asset products for investors worldwide.

“Today, Franklin Templeton announced a wide-ranging partnership with Binance,” wrote in a post, announcing the partnership, on X.

According to a release by Franklin Templeton on Wednesday, the partnership aims to create initiatives and solutions in the digital asset space, leveraging Binance’s position as a leading cryptocurrency exchange and Franklin Templeton’s $1.6 trillion in assets under management.

Also Read | Bitcoin at $114K: Experts hint at consolidation post hitting all-time high in mid-August

Post this collaboration, the firms will explore ways to combine Franklin Templeton’s expertise in the compliant tokenisation of securities with Binance’s global trading infrastructure and investor reach.


“The goal is to deliver innovative solutions to meet the evolving needs of investors by bringing greater efficiency, transparency and accessibility to capital markets with competitive yield generation and settlement efficiency,” the release informed.“As these tools and technologies evolve from the fringes to the financial mainstream, partnerships like this one will be essential to accelerating adoption,” said Sandy Kaul, EVP, Head of Innovation at Franklin Templeton. “We see blockchain not as a threat to legacy systems, but as an opportunity to reimagine them. By working with Binance, we can harness tokenisation to bring institutional-grade solutions like our Benji Technology Platform to a wider set of investors and help bridge the worlds of traditional and decentralised finance,” Kaul added.

“Investors are asking about digital assets to remain ahead of the curve, but they need to be accessible and dependable. 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,” said Roger Bayston, EVP and Head of Digital Assets at Franklin Templeton.

Also Read | Smallcap mutual funds see 23% drop in monthly inflows to Rs 4,992 crore in Aug. Is investor sentiment shifting?

“Our goal is to take tokenisation from concept to practice for clients to achieve efficiencies in settlement, collateral management, and portfolio construction at scale,” Bayston adds.

Franklin Templeton said that more details of the collaboration and new product launches will be shared later this year.

“Binance has a record of innovating first-in-crypto solutions that unlock access and opportunities for investors. Our strategic collaboration with Franklin Templeton to develop new products and initiatives furthers our commitment to bridge crypto with traditional capital markets and open up greater possibilities,” said Catherine Chen, Head of VIP & Institutional at Binance.

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