BlockBeats news, on May 12, global asset management giant Franklin Templeton and Payward, the parent company of the cryptocurrency exchange Kraken, announced a partnership to jointly explore on-chain tokenization opportunities for traditional financial products.
According to the statement, the collaboration will cover tokenized stocks, compliant custody, actively managed yield products, and institutional-grade crypto liquidity through Kraken OTC and Prime services.
Both parties stated that this collaboration is one of the clearest examples of practical integration between traditional finance and the digital assets market.
The report states that both parties will focus on researching the on-chain versions of Franklin Templeton’s financial products, including yield products for institutional clients, and may further extend access to certain products to Kraken’s broader user base.
Kraken previously launched its tokenized stock product, xStocks, and the company states that the cumulative trading volume for this service has exceeded $30 billion since its launch last year. Meanwhile, Franklin Templeton has already issued multiple crypto ETFs, launched the tokenized money market fund BENJI, and is currently collaborating with Ondo Finance to develop on-chain financial products.