OKX · CoinDesk
Digital asset-friendly financial institution Franklin Templeton is expanding its “off-exchange collateral program " to Bybit
Compiled by KHAO Editorial — aggregated from 2 sources. See llms.txt for citation guidance.
◎ Multiple-sources
The partnership allows investors and wallet holders on the exchange to pledge shares, which represent about $686 million in net assets, as collateral to borrow stablecoins USDT or USDC while earning yield on the underlying assets, according to a press release on Monday.
Key facts
- The partnership allows investors and wallet holders on the exchange to pledge shares, which represent about $686 million in net assets, as collateral to borrow stablecoins USDT or USDC while earning
- The shares are issued through the Benji Technology Platform, Franklin Templeton's proprietary blockchain-integrated record keeping and transfer agency infrastructure — This is not Franklin Templeton's first off-exchange collateral partnership; the firm also offers its tokenized money market funds to customers of Binance and OKX
- Digital asset-friendly financial institution Franklin Templeton is expanding its “off-exchange collateral program " to Bybit, allowing the exchange’s users to use shares in Franklin Templeton’s
Summary
The underlying assets will be held off-exchange through regulated custody platform, ByCustody, with the value mirrored within Bybit's trading environment. The shares are issued through the Benji Technology Platform, Franklin Templeton's proprietary blockchain-integrated record keeping and transfer agency infrastructure. Digital asset-friendly financial institution Franklin Templeton is expanding its “off-exchange collateral program " to Bybit, allowing the exchange’s users to use shares in Franklin Templeton’s tokenized money market funds for crypto trading. The key point is that users will not have to move the underlying assets to Bybit.