Franklin Templeton Expands Tokenized Collateral Service to Bybit

BlockBeats news, September 28: Franklin Templeton has expanded its "off-exchange collateral program" to Bybit, allowing users of the trading platform to use their tokenized money market fund shares for crypto trading.

These shares represent approximately $686 million in net assets and can be used as collateral to borrow USDT or USDC, while the underlying assets continue to generate yield. Users do not need to transfer the underlying assets to Bybit; the regulated custody platform ByCustody will hold the underlying assets off-exchange, with their value mirrored in the Bybit trading environment to unlock trading liquidity while generating yield.

Previously, Franklin Templeton had offered similar services to Binance and OKX clients.