Skip to content
$BTC$83,490−0.9%$ETH$2,688+0.4%$SOL$118.67−2.4%$XRP$1.50−1.1%$TON$1.57−3.8%MCap$2.83T−0.6%BTC.D58.9%Fear&Greed74 GreedGas6.2 gwei·2.1 sat/vBNews mood9% bullish
Basis Desk
Institutions & ETFs · 1 min read

Bybit Partners With Franklin Templeton to Offer Off-Exchange Tokenized Collateral

Institutions can pledge Franklin Templeton Benji-issued money market shares via ByCustody to unlock stablecoin credit on Bybit.

Neutral
$USDT $0.9995 −0.0% $USDC $1.00 0.0%

Key points

  • Institutional Bybit users can pledge Franklin Templeton Benji tokenized fund shares through ByCustody for USDT or USDC credit lines 1.
  • Underlying tokenized assets remain in off-exchange custody, allowing institutions to earn yield while trading on Bybit 1.
  • The collaboration includes a tokenized wealth product planned for the Bybit platform and the Mantle network 1.

Cryptocurrency exchange Bybit announced a strategic collaboration with asset management firm Franklin Templeton on Sept. 28, rolling out an off-exchange collateral system for institutional clients 1. Under the agreement, qualified trading firms can deploy tokenized money market fund shares to access liquidity without moving assets directly onto the trading venue 1.

The structure utilizes Franklin Templeton's Benji Technology Platform, a proprietary blockchain-based recordkeeping and transfer agency infrastructure 1. Institutional clients deposit their Benji-issued shares through ByCustody to obtain lines of credit denominated in $USDT or USDC 1. Because the fund tokens remain segregated within institutional custody off-exchange, counterparties can reduce exposure to centralized exchange risk while continuing to accrue underlying yield on their cash-management allocations 1. At the time of writing, USDT traded flat at $0.9995.

Expansion Into Retail and Mantle Ecosystem

Beyond institutional credit facilities, the partnership spans retail and ecosystem products 1. Bybit and Franklin Templeton confirmed plans to introduce a tokenized wealth offering accessible via the exchange interface and the Mantle network, which will surface Franklin Templeton investment strategies to wallet users 1. Additional operational specifics concerning the Mantle deployment will be published in a separate release 1.

The asset manager, which oversees $1.7 trillion in assets under management, indicated the arrangement is designed to connect traditional investment structures with decentralized wallet architectures 1. The firms also intend to issue joint educational resources focused on portfolio diversification and goals-based investing for on-chain participants 1.

Sources

  1. [1] Bybit and Franklin Templeton Form Strategic Collaboration to Expand Access to Tokenized Investing — prnewswire.com, September 28, 2026

Written by Basis Desk's newsroom system from the primary sources above and machine-verified against them before publication. Market figures marked "at the time of writing" come from live exchange data. Report an error: hello@basisdesk.news.

Community read
How do you read this story for the assets involved? One vote a day, anonymous.
Be the first to vote
Share X Telegram Bluesky Markdown

Not financial advice. Basis Desk publishes information, not recommendations. Crypto assets are volatile and you can lose what you invest.