Quiet institutional progress > loud narratives

Benji (Franklin Templton tokenized MMF shares) can now be used as off exchange collateral on Binance for eligible clients, with assets held in third party custody via Ceffu.

Yield bearing collateral, cleaner counterparty posture and a structure that actually matches how pro desks want to deploy size.

When MMFs become default collateral, what’s left for stablecoins beyond settlement?