Key Takeaways:
Payward and Franklin Templeton partnered on May 12, 2026, to build tokenized yield and equity products onchain.Kraken’s xStocks framework, with $30B+ in volume, will host Franklin Templeton actively managed strategies.BENJI token integration into Kraken expands institutional collateral and yield options for onchain capital.Kraken will integrate Franklin Templeton’s BENJI token suite into its platform for institutional use. BENJI tokens represent shares in the Franklin Onchain U.S. Government Money Fund and related vehicles and can be used as collateral or to generate yield in digital markets.
Sandy Kaul, head of digital assets and innovation at Franklin Templeton, stated that the focus is on making onchain assets functional for the full range of market participants.
Kaul explained:
“By expanding the utility of BENJI and exploring new tokenized products, our work with Payward reflects the growing need to serve both digital-native and institutional customers with solutions built for how capital increasingly moves onchain.”
