Franklin Templeton's BENJI tokenized fund gains new utility as Bybit allows users to leverage the asset as collateral for stablecoin trading credit lines while maintaining yield generation.
Franklin Templeton's expansion of its tokenized collateral service to Bybit demonstrates continued innovation and adoption, which is positive for the parent company.
The tokenized money market fund can now be used as collateral on Bybit, increasing its utility and potential demand.
USDT is accepted as collateral for trading credit lines on Bybit, reinforcing its role as a major stablecoin in crypto trading.
USDC is also accepted as collateral, expanding its use case in crypto derivatives trading.
Franklin Templeton expands the utility of its tokenized U.S. Government Money Fund (BENJI) by enabling its use as collateral on the Bybit exchange. Traders can now secure USDT or USDC credit lines while continuing to earn yield on their underlying tokenized assets.
Users can access trading credit lines for USDT and USDC while simultaneously earning yield from the underlying U.S. Government Money Fund assets.
The feature currently supports trading credit lines denominated in Tether (USDT) and USD Coin (USDC).