BounceBit launches Borobudur credit layer for Franklin Templeton’s BENJI

BounceBit has rolled out Borobudur, a credit infrastructure layer that lets holders of Franklin Templeton’s BENJI tokenized money market fund shares access zero-interest credit lines without liquidating their positions. The feature, delivered through BB Credit within BounceBit’s portal, effectively turns yield-bearing assets into collateral for borrowing, all denominated in BounceBit’s native BB token. How the credit layer works BENJI represents shares of Franklin Templeton’s regulated US government money market fund, known formally as FOBXX. The fund uses blockchain technology for transaction processing, making it one of the earliest examples of a major asset manager putting real-world fund infrastructure on-chain. Borobudur creates what BounceBit describes as a “full capital cycle.” Users hold BENJI positions that continue earning yield from the underlying government money market fund. Simultaneously, those same positions serve as collateral for BB-denominated credit lines carrying zero interest. The credit lines also extend to CeDeFi strategy positions within the BounceBit ecosystem, broadening the range of assets that can serve as collateral beyond just BENJI. A year in the mak...