Kraken and Franklin Templeton partner on tokenized products

Kraken’s parent Payward and Franklin Templeton are partnering to launch tokenized financial products for institutions, reflecting the growing adoption of blockchain in traditional finance.

Payward, the parent company of crypto exchange Kraken, has formed a strategic partnership with Franklin Templeton to create a new suite of tokenized financial products targeting institutional investors. The collaboration will focus on blockchain-based offerings, including tokenized yield products, tokenized equities, custody services, and actively managed onchain funds. Kraken plans to integrate Franklin Templeton’s BENJI tokenized money market funds as collateral and cash management tools for its institutional clients. Additionally, some of these products may become available to retail Kraken users in select jurisdictions. This initiative highlights the growing trend among major financial institutions to explore and expand tokenized versions of traditional assets, aiming to boost efficiency, accessibility, and participation in the evolving digital finance landscape.