Franklin Templeton and Bybit Launch Tokenized Collateral Program for Institutions
BEN sits 55% above its 52-week low of $21.105.
Summary
Franklin Templeton and Bybit announced a strategic collaboration to expand tokenized investing. The first initiative lets institutional clients pledge tokenized money market fund shares (issued via Franklin's Benji platform) as off-exchange collateral on Bybit, unlocking USDT/USDC trading credit lines while assets stay in custody. A tokenized wealth product for wallet-based investors on Bybit and Mantle chain is also planned. This follows Franklin's Q3 beat and name change to Franklin Templeton, and extends its digital asset push. The deal could increase demand for Franklin's tokenized funds and strengthen its position in crypto infrastructure, though revenue impact is not yet quantified.
At the time of this announcement, BEN was trading at $32.71 on NYSE in the Finance sector, with a market capitalization of approximately $16.8B. The 52-week trading range was $21.11 to $36.28. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Chainwire.