Payward and Franklin Templeton to Develop Tokenized Onchain Products

Payward, the parent company of cryptocurrency exchange Kraken, has entered a major partnership with global asset manager Franklin Templeton to develop a suite of onchain investment products. The collaboration, announced on May 12, 2026, aims to bridge traditional finance and digital asset markets by offering tokenized financial instruments to institutional and eligible retail clients.

The partnership involves three key initiatives. First, Franklin Templeton's BENJI tokenized money market funds will be integrated directly into Kraken's platform. These funds are designed to serve as both collateral and yield-generating instruments for institutional traders. Second, the firms will co-design new tokenized yield products aimed at institutional clients. Third, Franklin Templeton will introduce actively managed investment strategies on Payward's xStocks framework, a tokenized equities platform that has processed over $30 billion in trading volume since its launch in 2025.

Arjun Sethi, co-chief executive of Payward and Kraken, stated that the collaboration reflects a fundamental shift in how financial products are structured, unlocking a new class of assets that combine institutional...