Franklin Templeton and Payward, the parent company of the Kraken exchange, announced a strategic collaboration to bring mainstream financial products onto blockchain networks. The partnership combines Franklin Templeton's asset management expertise with Payward's crypto-native trading and custody infrastructure.
The deal includes plans to integrate Franklin Templeton's BENJI tokenized money market funds into Kraken's platform as collateral and cash management tools for institutional clients.
Payward's xStocks framework, which has processed over $30 billion in volume, will explore new actively managed on-chain investments with Franklin Templeton. Some products will be available to institutional investors and, in certain jurisdictions, to retail Kraken users as well.
This announcement follows Franklin Templeton's launch of a dedicated cryptocurrency division, Franklin Crypto, anchored by its acquisition of investment firm 250 Digital.