Franklin Templeton partners with Kraken's parent company to advance the on-chaining of Wall Street assets.

CoinFeed reported on May 12th that, according to Decrypt, Kraken's parent company Payward and asset management giant Franklin Templeton announced a strategic partnership to bring some traditional financial products, including tokenized stocks and yield products, to the blockchain network. The two companies will integrate Franklin Templeton's tokenized money market fund, BENJI, into the Kraken platform as collateral and cash management tools for institutional clients. Payward's xStocks framework (which has handled over $30 billion in trading volume since its launch last year) will collaborate with Franklin Templeton to explore new on-chain actively managed products, making its investment strategies available to institutional and select retail investors in certain jurisdictions.