Payward and Franklin Templeton Partner to Tokenize Actively Managed Funds

Payward, parent company of Kraken, and Franklin Templeton announced a strategic collaboration to bring traditional financial products onchain. The partnership leverages Kraken's crypto infrastructure and Franklin Templeton's asset management expertise to create tokenized investment vehicles.

Key initiatives include integrating BENJI—Franklin Templeton's tokenized money market funds—into Kraken's platform as collateral tools. The xStocks framework, with $30B+ in processed volume since 2025, will serve as the foundation for new actively managed strategies.

"We're erasing the line between traditional finance and digital infrastructure," said Arjun Sethi, Payward's Co-CEO. The collaboration promises institutional-grade yield products and enhanced crypto liquidity access through Kraken's OTC and Prime services.