Kraken, Franklin Templeton to build onchain products

Kraken's parent company, Payward, is partnering with asset manager Franklin Templeton to create tokenized financial products for institutional investors. This collaboration will focus on blockchain-based offerings like tokenized yield products, equities, and actively managed onchain funds. Some products may become available to retail Kraken users in specific regions. The initiative aims to leverage Franklin Templeton's expertise in blockchain investments and Kraken's trading infrastructure, integrating Franklin Templeton's BENJI tokenized money market funds as collateral and cash management tools. This move reflects a growing trend of traditional finance firms exploring tokenization for increased efficiency and market access.