Franklin Templeton Expands Tokenized Collateral Program to Bybit
- Franklin Templeton’s off-exchange collateral program now includes Bybit, allowing users to trade with tokenized money market fund shares.
- Users can pledge shares valued at approximately $686 million in net assets as collateral for borrowing stablecoins USDT or USDC.
- The underlying assets will be held off-exchange by regulated custody platform ByCustody, enabling yield generation without moving assets to Bybit.
- This initiative follows similar partnerships with Binance and OKX, enhancing collateral mirroring in the crypto space.
- Sandy Kaul, Head of Digital Assets and Innovation at Franklin Templeton, emphasized the ongoing development of collateral solutions in cryptocurrency.
This expansion allows users on Bybit to utilize Franklin Templeton’s tokenized funds for enhanced trading flexibility while earning yield on their investments. The collaboration marks a significant step in integrating traditional finance with digital asset markets.
With about $686 million in net assets available as collateral, Franklin Templeton’s initiative aims to unlock liquidity for cryptocurrency traders on Bybit.(Source)
