JellyC Joins Tokenised Collateral Initiative for Crypto Funds

Australian asset manager Jelly C has announced it has joined a recently launched tripartite collateral programme with crypto exchange OKX, and Standard Chartered and has selected Frankli Templeton’s tokenised money market fund (TMMF) as its preferred trading collateral.

The firm says the deal allows JellyC to utilise cryptocurrencies and Franklin Templeton’s tokenised money market funds as off-exchange collateral for trading on OKX while using Standard Chartered, a Globally Systemically Important Bank (G-SIB), as the custodian for its collateral. “This initiative significantly enhances security and capital efficiency for JellyC, while maintaining the highest standards of security,” the firm states

Jelly C currently offers four funds in digital assets and will access on-chain assets developed by Franklin Templeton’s digital assets team, to integrate them into its financial and operational structures.

“Franklin Templeton’s natively minted on-chain TMMF provides legal certainty of fund ownership in real time, 24/7/365, and airdrops dally as new tokens,” explains Michael Prendiville, CEO of Jelly C. “Marrying the Franklin TMMF with the Standard Chartered-OKX tripartite collateral structure elevates safety and soundness to a level akin to traditional finance, making this fit for purpose in a digital world.

“We have a solution suitable for the wealth and funds management sector as well as the Superannuation industry in Australia,” he continues. “We are witnessing an increasing institutional demand for digital asset trading solutions that leverage established banking infrastructure, ensuring secure and compliant capital deployment in crypto markets.”

OKX Australia CEO, Kate Cooper, adds, “Institutional traders seeking exposure to crypto markets have historically faced a challenging trade-off between market access and asset security. JellyC joining the tripartite programme validates our approach to solving the key barriers to institutional crypto adoption. This is just the beginning of what we expect to be significant institutional momentum in the Australian market.”