Franklin Templeton Expands Tokenized Collateral Program to Bybit

Franklin Templeton has expanded its tokenized collateral program to Bybit, enabling users of the exchange to pledge shares in Franklin Templeton's money market funds as collateral for USDT and USDC trading credit lines.

The program uses ByCustody to hold the underlying assets off-exchange, while Bybit mirrors their value in its trading environment, allowing users to earn yield without moving the assets onto the exchange.

This is part of Franklin Templeton's broader effort to expand its tokenized collateral initiative across multiple crypto trading platforms. The company has previously partnered with Binance and OKX on similar programs.