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Kraken parent, Franklin Templeton to develop onchain investment products
TL;DR
Payward, the parent company of Kraken, is partnering with Franklin Templeton to create blockchain-based investment products for institutional investors, including tokenized yield products and equities.
Key points
- Payward partners with Franklin Templeton for tokenized financial products
- Developing blockchain-based investment offerings for institutional investors
- Tokenization can enhance trading and settlement of traditional assets
Mentioned in this story
PaywardKrakenFranklin TempletonBlackRockFidelityJPMorgan
Payward, the parent company of crypto exchange Kraken, is working with asset manager Franklin Templeton to expand the use of tokenized financial products for institutional investors.
The companies said Tuesday they will develop a range of blockchain-based investment offerings, including tokenized yield products, tokenized equities and custody services tied to digital assets.
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.
The firms plan to explore actively managed tokenized investment products that could trade onchain and become available to institutional investors and, in some jurisdictions, retail Kraken users.
Kraken also plans to integrate BENJI, Franklin Templeton’s suite of tokenized money market funds, into its platform. The funds could serve as collateral or cash management tools for institutional trading clients seeking blockchain-based alternatives to traditional treasury operations.
Analysts view tokenized Treasury funds as one of the fastest-growing sectors in digital assets because they offer yields tied to government securities while operating on blockchain rails. In practice, that can allow institutions to move collateral around the clock instead of waiting for banking hours or multiday settlement periods.
Read more: Kraken parent Payward seeks fresh funding at $20 billion valuation ahead of planned IPO
Q&A
What types of onchain investment products are being developed by Kraken and Franklin Templeton?
They are developing tokenized yield products, tokenized equities, and custody services tied to digital assets.
How does tokenization benefit traditional financial assets?
Tokenization can reduce settlement times, expand market access, and facilitate easier movement of assets between financial platforms.
Which major financial firms have recently expanded blockchain-related financial products?
Major firms like BlackRock, Fidelity, and JPMorgan have expanded their offerings, particularly in tokenized Treasuries and money market funds.
