Crypto Fund JellyC Collaborates with Standard Chartered and OKX for Safe Cryptocurrency Trading

JellyC, a digital asset investment manager with over $100 million in assets under management, announced that it joined a program with crypto exchange OKX and international bank Standard Chartered (STAN) to trade cryptocurrencies while keeping its collateral secure off-platform. The Australian company will utilize a Franklin Templeton tokenized money market fund (TMMF) as its preferred trading collateral. Standard Chartered will hold the collateral, as detailed in the press release shared with Hotnchill.

JellyC stated that this initiative will enhance its capital efficiency and reduce direct exposure to OKX, potentially attracting institutional investments while mitigating risks similar to those seen during the FTX collapse.

“Franklin Templeton’s natively minted on-chain TMMF provides legal certainty of fund ownership in real time, 24/7/365, with daily airdrops as new tokens,” said JellyC CEO Michael Prendiville in the email. “Combining the Franklin TMMF with the Standard Chartered and OKX tripartite collateral structure elevates safety and soundness to a level comparable to traditional finance, making this suitable for a digital world.”

Prendville emphasized that this approach is well-suited for the wealth and funds management sector, as well as Australia’s superannuation, or pension savings, industry. It meets the growing demand for digital asset trading products that leverage established banking infrastructure to ensure secure and compliant capital deployment in the cryptocurrency market.