Kraken Parent Payward Partners with Franklin Templeton on Tokenized Products
Payward, the parent company of crypto exchange Kraken, has partnered with asset manager Franklin Templeton to expand tokenized financial products for institutional investors. The collaboration will develop blockchain-based offerings such as tokenized yield products, tokenized equities, and custody services. This move aligns with the broader trend of traditional finance firms like BlackRock, Fidelity, and JPMorgan exploring tokenized assets to improve settlement efficiency and market access. Franklin Templeton brings its experience in blockchain-based investment products, while Payward leverages Kraken's infrastructure and its xStocks platform, which has processed over $30 billion in tokenized equity trading since 2025. The firms plan to create actively managed tokenized investment products available to institutions and, in some regions, retail Kraken users. Additionally, Kraken will integrate Franklin Templeton's BENJI tokenized money market funds, enabling use as collateral or cash management tools. Tokenized Treasury funds are seen as a fast-growing sector, offering yields from government securities with 24/7 movement capabilities.
Key facts
- Payward and Franklin Templeton partner to launch tokenized yield products and equities.
- Kraken's xStocks platform has processed over $30 billion in tokenized equity volume.
- Kraken will integrate Franklin Templeton's BENJI tokenized money market funds.
- Tokenized Treasuries are a fast-growing sector enabling 24/7 collateral movement.
- The partnership targets institutional investors and some retail users.