Crypto Fund JellyC Teams Up With Standard Chartered, OKX for Secure Crypto Trading

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JellyC, a digital asset funding supervisor with over $100 million in belongings beneath administration, stated it joined a program with crypto change OKX and worldwide financial institution Standard Chartered (STAN) that may permit it to commerce cryptocurrencies whereas conserving its collateral safe off-platform.

The Australian firm stated it should use a Franklin Templeton tokenized cash market fund (TMMF) as its most well-liked buying and selling collateral. The collateral will probably be held by Standard Chartered, in line with the press launch shared with CoinDesk.

JellyC stated the initiative will improve its capital effectivity and cut back its direct publicity to OKX, doubtlessly attracting institutional investments and mitigating the chance of an FTX-style blowup that destroyed billions in investor wealth.

“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,” JellyC CEO Michael Prendiville stated within the electronic mail. “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.”

Prendville stated the strategy is appropriate for the wealth and funds administration sector, in addition to Australia's superannuation, or pensions financial savings, trade and caters to the demand for digital asset buying and selling merchandise that leverage established banking infrastructure to make sure safe and compliant capital deployment within the cryptocurrency market.

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