Franklin Templeton expands tokenized money market fund collateral services to Bybit
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Franklin Templeton expands tokenized money market fund collateral services to Bybit。
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Franklin Templeton expands tokenized collateral services to Bybit
PANews September 28 According to CoinDesk, Franklin Templeton has expanded its “off-exchange collateral program” to Bybit, allowing users of the exchange to use shares of its tokenized money market fund for crypto trading. These shares represent approximately 686000000 USD 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. Regulated custody platform ByCustody will hold the underlying assets off-exchange, with their value mirrored in the Bybit trading environment, generating yield while unlocking trading liquidity. Franklin Templeton previously provided similar services to Binance and OKX clients.
Franklin Templeton has expanded its “off-exchange collateral program” to Bybit。
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Bybit Users can use tokenized money market fund shares for crypto trading and borrow USDT or USDC。
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The relevant shares represent approximately 686000000 USD in net assets, while the underlying assets continue to generate yield.
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ByCustody will custody the underlying assets off-exchange, with their value mirrored in the Bybit trading environment.
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Franklin Templeton previously provided similar services to Binance and OKX clients.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
Users do not need to transfer the underlying assets to Bybit; the assets can remain held by an off-exchange custody platform while their value is reflected in the Bybit trading environment, where they can be used as trading collateral to borrow USDT or USDC。
Why it matters to readers
This connects tokenized money market fund shares with collateralized financing for crypto trading, allowing the underlying assets to potentially continue generating yield while users trade using collateral.
Tokenized fund shares are digitally represented fund interests; collateral is an asset pledged as security when borrowing or trading.
Risks and unknowns
The evidence comes from PANews’ account of a CoinDesk report and does not provide original announcements from Franklin Templeton,Bybit or ByCustody.
The evidence does not specify the service’s collateral ratio, borrowing limits, applicable regions, eligibility requirements, or actual launch date.
The evidence does not specify the scale of user adoption or the service’s impact on actual demand for USDT or USDC.
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Related concepts
Tokenized money market fund
This term is not in the glossary yet. Browse related concepts in the glossary.
An asset provided by a counterparty to guard against potential losses, which may be liquidated in the event of default to compensate the lender for its loss.
