Franklin Templeton and Bybit Launch Tokenized Collateral Program for Institutional Clients

Franklin Templeton has partnered with Bybit to expand its tokenized money market infrastructure. This collaboration allows eligible institutional clients to use Benji-issued fund shares as off-exchange collateral while accessing USDT or USDC trading credit lines through ByCustody.

The Benji Technology Platform, developed by Franklin Templeton, is a blockchain-integrated recordkeeping platform that issues one BENJI token for every share of the Franklin OnChain U.S. Government Money Fund (FOBXX). As of August 31, FOBXX held $686.64 million in net assets.

The partnership with Bybit marks another expansion of Benji's presence across crypto platforms. In June, Franklin Templeton partnered with MoonPay to connect the Benji Technology Platform with MoonPay Trade, allowing eligible institutional users to move between supported stablecoins and tokenized money market fund exposure.