Global crypto exchange OKX has announced a strategic partnership with financial giants Standard Chartered, Brevan Howard and Franklin Templeton to launch a collateral mirroring programme for tokenized money market funds in Dubai. OKX Collaborates with Standard Chartered, Brevan Howard and Franklin Templeton to Launch Tokenized Money Market Fund Initiative in Dubai The initiative, which will operate under the regulatory framework of Dubai’s Virtual Assets Regulatory Authority (VARA), marks a significant step towards bridging traditional finance (TradFi) and decentralized finance (DeFi). The new program aims to enable institutions to use tokenized versions of money market funds (MMFs) as collateral for trading and lending activities in the crypto ecosystem. This provides greater liquidity management and capital efficiency while maintaining exposure to traditional financial instruments. Under the collaboration, leading asset manager Franklin Templeton, hedge fund Brevan Howard and banking giant Standard Chartered will leverage their expertise to tokenize MMFs, which are typically seen as low-risk, yield-generating products, and bring them onto blockchain rails. Dubai's VARA Framework Facilitates Innovation The project is being launched within Dubai’s growing virtual asset ecosystem, with VARA providing the regulatory infrastructure for compliant digital asset innovation. Dubai has emerged as a global hub for crypto and blockchain projects, providing a clear framework for firms looking to operate in the space. OKX’s Chief Commercial Officer, Lennix Lai, commented that the partnership was a “milestone” for tokenization adoption, saying: “This collaboration brings together traditional financial institutions and crypto-native platforms to create real-world utility for tokenized assets. This is an important step towards integrating DeFi mechanisms with regulated TradFi products.” *This is not investment advice. Continue Reading: Bitcoin Exchange OKX Announces Partnership with Major Investment Companies to Operate in Dubai!
