OKX and Standard Chartered Bank collaborate to launch a collateral mirror program for tokenized money market funds under the Dubai VARA framework

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According to ChainCatcher, OKX announced a collaboration with Standard Chartered Bank, Brevan Howard, and Franklin Templeton to launch a collateralized mirror plan for tokenized money market funds under the VARA framework in Dubai.

The plan aims to enable institutional clients to use cryptocurrencies and tokenized money market funds as collateral for over-the-counter trading, with global systemically important banks (G-SIB) serving as collateral custodians.

Franklin Templeton will be the first in a series of money market funds launched under the OKX-SCB plan.

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