OKX collaborates with Standard Chartered Bank and others to launch a collateralized mirror program for tokenized money market funds under the VARA framework in Dubai

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

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

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