Franklin Templeton and Bybit Launch Tokenized Money Market Fund Partnership

Franklin Templeton has partnered with Bybit to offer tokenized money market fund access for eligible institutional investors. This new partnership will allow clients to use fund shares as collateral in trading on Bybit, giving them a flexible option for their capital.

The program enables users to pledge tokenized fund shares through ByCustody, Bybit's institutional custody platform. Eligible investors can then be granted USDT or USDC credit lines to use for trading activity. The underlying assets are not on-exchange and are only acknowledged as part of the trading system of Bybit.

Franklin Templeton issues the tokenized shares through its Benji Technology Platform. As part of its overall business, Franklin Templeton manages approximately $1.7 trillion in assets. The tokened money market fund associated with the program currently has net assets of approximately $686 million.