Kraken parent, Franklin Templeton to develop onchain investment products
The partnership will focus on tokenized yield products, blockchain-based funds and institutional crypto markets.
What to know:
- Payward, the parent of crypto exchange Kraken, is working with asset manager Franklin Templeton to develop a range of tokenized financial products for institutional investors.
- The collaboration will focus on blockchain-based offerings such as tokenized yield products, tokenized equities, custody services and actively managed onchain funds, some of which may be available to retail Kraken users in certain jurisdictions.
- Kraken plans to integrate Franklin Templeton’s BENJI tokenized money market funds as collateral and cash management tools, reflecting broader Wall Street interest in tokenized Treasuries and funds that can move collateral around the clock.
The move comes as large financial firms explore testing tokenized versions of conventional assets. BlackRock, Fidelity and JPMorgan have all expanded blockchain-related financial products over the past two years, particularly tokenized Treasuries and money market funds.
Tokenization refers to representing traditional financial assets such as stocks, bonds or money market funds on blockchain networks, where they can be traded and settled digitally. Supporters argue the approach can reduce settlement times, expand market access and allow assets to move more easily between financial platforms.
The collaboration joins two firms that have taken different routes into tokenized finance. Franklin Templeton has spent years building blockchain-based investment products. Payward has focused on crypto trading infrastructure through Kraken and its xStocks tokenized equities platform, which the company says has processed more than $30 billion in trading volume since starting up in 2025.
