According to CoinMeta, and as reported by CoinDesk, Franklin Templeton has expanded its off-chain collateral program to Bybit. Users can use their tokenized money market fund shares as collateral to obtain USDT or USDC trading credit lines, while continuing to earn returns on the underlying assets. The net asset value of these shares is approximately $686 million and will be held off-exchange through ByCustody. Their value is mapped to the Bybit trading environment, without the need to transfer the underlying assets onto the exchange. These shares are issued through Franklin Templeton's Benji platform, and the current seven-day annualized yield is about 3.7%. Franklin Templeton has previously offered this service to customers of Binance and OKX.