Payward, the parent company of Kraken, has partnered with Franklin Templeton to develop onchain investment products, announced on May 12, 2026. This collaboration aims to merge traditional asset management with digital finance, leveraging Franklin Templeton's $1.74 trillion asset management expertise and Kraken's established crypto exchange infrastructure. The partnership focuses on three key areas: integrating Franklin Templeton's BENJI tokenized money market funds into Kraken's platform, co-designing new tokenized yield products for institutional clients, and introducing actively managed strategies on Payward's xStocks framework. This initiative targets institutional clients and select retail users in compliant jurisdictions, enhancing capital efficiency by allowing tokenized funds to serve as both collateral and yield-generating instruments.