Bybit clients can pledge Franklin's tokenized money fund shares as off-exchange trading collateral

Franklin Templeton/Franklin OnChain US Government Money Fund (BENJI)

Franklin Templeton and Bybit agreed that eligible institutional clients can pledge tokenized money market fund shares, recorded on the Benji platform, to get USDT or USDC trading credit without moving the shares onto the exchange. The shares stay with a regulated custodian and keep earning yield. It copies an earlier arrangement with Binance.

• Collateral held through ByCustody, off the exchange.
• Clients get stablecoin credit lines while keeping fund yield.
• Planned next: a retail tokenized wealth product on Bybit and the Mantle chain.
• A similar setup already runs with Binance, with Ceffu as custodian.