Franklin Templeton has integrated its Benji platform with the Bybit exchange, allowing institutional traders to use tokenized money market fund shares as off-exchange collateral. This service enables users to maintain assets with a regulated custodian while simultaneously earning yield.
The BENJI tokens are issued on a one-to-one basis, representing shares in the Franklin OnChain U.S. Government Money Fund (FOBXX). The platform currently operates on multiple blockchains, including Ethereum and Stellar, to provide institutional flexibility.
This expansion follows a similar partnership with Binance, which commenced on February 11, 2026. The move comes as Franklin Templeton’s total tokenized assets under management have surpassed $2 billion.
In August 2026, the SEC issued a no-action letter allowing the use of FOBXX and BENJI tokens for cash and collateral management. This development supports the integration of regulated, yield-bearing assets into the trading workflows of major crypto exchanges.
