Binance and Franklin Templeton are teaming up to build digital asset products that aim to bridge the gap between traditional markets and crypto.

The two firms will combine Franklin Templeton’s work in tokenizing securities with Binance’s trading infrastructure and global investor base, according to the Tuesday statement. The focus of two firms’ tokenization efforts are «not related to the U.S.,» a Binance representative said via email.

The goal, both firms said, is to create products that offer efficient settlement, transparent pricing and access to competitive yields for a wide set of investors.

Franklin Templeton, which manages $1.6 trillion in assets, has been developing blockchain-based tools such as its Benji platform for tokenized funds. Last year, the traditional finance firm announced its OnChain U.S. Government Money Market Fund could be traded on Coinbase’s Base blockchain.

“We see blockchain not as a threat to legacy systems, but as an opportunity to reimagine them,” said Sandy Kaul, head of innovation at the firm. She added that working with Binance could accelerate adoption of institutional-grade tokenized assets.

Binance, which serves more than 280 million users, framed the partnership as part of its effort to open traditional capital markets to crypto investors. “Our strategic collaboration with Franklin Templeton furthers our commitment to bridge crypto with traditional markets and open up greater possibilities,” said Catherine Chen, head of VIP and institutional clients at Binance.

Specific products are expected to be unveiled later this year, the companies said in a press release.