Bybit Partners with Franklin Templeton for Tokenized MMF Collateral

Bybit has entered a strategic partnership with Franklin Templeton to allow institutional clients to use tokenized money market fund (MMF) shares as off-exchange collateral. Eligible clients can leverage these assets via Bybit’s institutional custody service, ByCustody, to secure trading credit for USDT or USDC pairs. The underlying assets remain in off-exchange custody via Franklin Templeton’s Benji Technology Platform, which supports multiple blockchain networks. The companies also plan to expand this collaboration to offer tokenized asset management products on the Mantle network.