Kraken and Franklin Templeton team up to build tokenized yield products and onchain funds for institutions!

Payward, the parent company of crypto exchange Kraken, has announced a partnership with asset manager Franklin Templeton to develop a suite of tokenized financial products targeting institutional investors. The collaboration will span tokenized yield products, tokenized equities, custody services, and actively managed onchain funds — with some offerings potentially available to retail Kraken users in select jurisdictions.

A key piece of the deal is Kraken's planned integration of BENJI, Franklin Templeton's tokenized money market fund suite, as collateral and cash management infrastructure for institutional trading clients. That integration speaks directly to one of tokenization's most practical near-term use cases: allowing institutions to move collateral around the clock rather than waiting on banking hours or multiday settlement windows.

The partnership joins two firms that arrived…