Bybit accepts Franklin Templeton tokenized funds as trading collateral
Eligible institutions can pledge Benji-issued fund shares for stablecoin credit lines while keeping the underlying assets in off-exchange custody.
Eligible institutions can pledge Benji-issued fund shares for stablecoin credit lines while keeping the underlying assets in off-exchange custody.
Franklin Templeton has partnered with Bybit on a program that lets institutional investors use tokenized shares of its money market funds as trading collateral, expanding their use beyond a simple buy-and-hold investment.
The companies announced Monday that eligible clients can pledge fund shares issued through Franklin Templeton’s Benji platform while the assets remain in off-exchange custody. In return, clients can access credit lines denominated in the USDT or USDC stablecoins to trade on Bybit without selling the fund shares or transferring them onto the exchange.
Franklin Templeton and Bybit are also planning a tokenized investment product for wallet users on Bybit and the Mantle network, although they have not yet disclosed details.