Bybit and Franklin Templeton have announced a partnership that will allow institutional clients to use Franklin Templeton's tokenized money market funds as collateral for trading on Bybit, while the assets themselves remain off the exchange. Citi and Coinbase have also entered into a partnership: Coinbase clients will receive Citi virtual accounts with automatic conversion of incoming fiat to stablecoins, and Citi's corporate clients will be able to accept stablecoin payments via Coinbase.

Franklin Templeton Tokenized Funds as Off-Exchange Collateral

As part of the Bybit and Franklin Templeton collaboration, exchange positions will be collateralized by shares in Franklin Templeton's tokenized money market funds, with the underlying assets held off the trading platform.

Citi Virtual Accounts and Stablecoin Payments via Coinbase

Under the Citi and Coinbase partnership, Coinbase clients will have access to Citi virtual accounts with automatic conversion of incoming fiat payments to stablecoins. Citi's corporate clients will also be able to accept stablecoin payments through Coinbase's infrastructure.