Bybit and Franklin Templeton launched a tokenized money market fund as off exchange collateral

Institutions pledge Benji fund shares through ByCustody and receive a credit line in USDT or USDC on Bybit, while fund yield keeps accruing.

Facts

• CoinDesk: Franklin Templeton expanded its off exchange collateral program to Bybit. Shares of the $686 million tokenized money market fund can be pledged for a loan in $USDT or $USDC without moving assets to the exchange, while still earning yield [CoinDesk, September 28, 2026]

• Franklin Templeton Digital Assets announced strategic cooperation with Bybit on September 28, 2026 [Rickler Feed, September 28, 2026]

• Per the FTDA_US release, shares are issued on the Benji platform, pledged through the ByCustody custodial platform and remain in regulated custody, with their value reflected in the Bybit trading account

• Next partnership step: a tokenized strategies product from Franklin Templeton for wallet retail on Bybit and on the Mantle network, with details to be disclosed separately by Bybit and Mantle [@FTDA_US, September 28, 2026]

Awaiting:

• Terms and timing of the Franklin Templeton retail product on Bybit and on the Mantle network: Bybit and Mantle promise to disclose them separately

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