Kraken, Franklin Templeton partner on on-chain investment products

Kraken's parent company, Payward, has formed a strategic partnership with asset manager Franklin Templeton to develop on-chain financial products aimed at institutional investors, CoinDesk reported. The two firms plan to jointly develop tokenized yield products, stocks, and blockchain-based active funds to accelerate their push into the institutional market. Some products may also be offered to Kraken's retail investors in certain regions. Additionally, Kraken plans to integrate Franklin Templeton's BENJI tokenized money market fund as a tool for collateral and cash management.