Franklin Templeton’s Benji Fund Shares Now Collateral on Bybit

This extends the tokenized money-market fund from a settlement asset into collateral, letting holders borrow stablecoins without selling yield-bearing positions. It matters most for Bybit's institutional and high-volume clients, who gain capital efficiency, and it deepens Franklin Templeton's distribution beyond a single venue. The open question is whether this collateral model spreads to more exchanges and whether other fund issuers follow, since the Binance precedent now has a second venue.