Crypto-friendly institution Franklin Templeton brings its tokenized collateral service to Bybit
In this news:
Key takeaways
- Franklin Templeton expanded its tokenized collateral service to Bybit.
- The Benji Technology Platform currently offers a 3.7 percent annualized yield.
- Other platforms like Crypto.com and Deribit already accept tokenized funds as collateral.
“So now I'm able to really look across the top exchanges and be able as an investor to use my collateral more optimally while earning yield on it,” Kaul said in an interview. “That to me is a critical unlock to really allow the ecosystem to grow. It's also a wonderful opportunity for us as an asset manager to be designing products specifically for this wallet-based investing channel.”
The shares are issued through the Benji Technology Platform, Franklin Templeton's proprietary blockchain-integrated record keeping and transfer agency infrastructure. Benji's currently pays a 3.7% annualized yield, based on the latest seven-day rate.
The expansion reflects a broader industry pattern. Several crypto platforms accept tokenized funds as collateral for trades. Crypto.com and Deribit, for example, allow eligible institutional and professional users to use BlackRock’s BUIDL fund to back trades, including derivatives positions.
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