Bybit said it has entered a strategic partnership with global asset manager Franklin Templeton, with the two sides set to work on tokenized assets, institutional liquidity and on-chain wealth management. The first rollout under the partnership is an off-exchange collateral program aimed at eligible institutional clients. Under the arrangement, clients can place tokenized shares of a Franklin Templeton money market fund issued through the Benji Technology Platform into ByCustody and use those holdings as collateral to obtain trading credit in USDT or USDC on Bybit. The assets do not need to be transferred onto the exchange, and investors can continue to earn yield on those positions. Yoyee Wang, Bybit’s global head of RWA and TradFi, said institutional adoption of digital assets is raising demand for capital efficiency, flexibility and risk management. Sandy Kaul, Franklin Templeton’s head of digital assets and industry advisory services, said tokenization is reshaping financial markets and that the partnership creates a new route for regulated yield-bearing assets to enter the digital asset market through a connection between Benji and Bybit.
Bybit has announced a strategic partnership with global asset manager Franklin Templeton, with the two companies planning to work together on tokenized assets, institutional liquidity and on-chain wealth management.
The first initiative under the partnership is an off-exchange collateral program. Eligible institutional clients will be able to place tokenized shares of a Franklin Templeton money market fund issued through the Benji Technology Platform into ByCustody, then use those assets as collateral to obtain trading credit in USDT or USDC on Bybit.
According to the announcement, the assets do not need to be transferred onto the exchange, and investors can continue to receive yield from the holdings.
Yoyee Wang, Bybit’s global head of RWA and TradFi, said that as institutions accelerate their adoption of digital assets, investors are demanding more from capital efficiency, flexibility and risk management. Wang said the partnership will broaden the range of high-quality collateral available to institutions while improving capital use without giving up yield exposure on the assets.
Sandy Kaul, Franklin Templeton’s head of digital assets and innovation, said tokenization is reshaping financial markets. Kaul said the partnership will expand access to actively managed investment products within wallet ecosystems and, through the link between the Benji Technology Platform and Bybit, create a new channel for regulated yield-bearing assets to enter the digital asset market.
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