TL;DR
- Strategic collaboration with Franklin Templeton announced live on stage between Payward (Kraken’s parent company) and one of the world’s largest asset managers.
- BENJI integration on Kraken brings Franklin Templeton’s tokenized money market funds online for collateral, settlement and institutional use cases.
- Tokenized Gold ETF Airdrop delivered approximately $200 of real gold-backed exposure to each eligible participant, settled on-chain in seconds.
- xStocks Frame has now processed more 30 billion dollars in volume since its launch in 2025, anchoring the next wave of real-world tokenized assets.
We recently joined hundreds of manufacturers, regulators, dispatchers and operators in Bermuda for the Digital Finance Forum. Two moments stood out.
A strategic collaboration with Franklin Templeton announced live on stage
From the main stage, our co-CEO Dave Ripley revealed a strategic collaboration between Payward (the parent company of Kraken and developer of the xStocks framework) and Franklin Templeton, one of the world’s largest asset managers and a pioneer in digital assets since 2018.
The collaboration covers tokenized equities, qualified custody, actively managed yield products, and direct access to institutional liquidity through Kraken’s OTC and Prime desks. Two pieces stood out:
- BENJI on Kraken. Franklin Templeton’s suite of global tokenized money market funds will be integrated into Kraken for a range of institutional use cases, expanding what tokenized cash can actually do on-chain, from collateral to settlement and beyond.
- New products with tokenized yield, co-designed. Payward and Franklin Templeton will work together to bring actively managed, performance-driven strategies online. The products are built with the transparency, flexibility, and programmability expected by crypto-native investors, along with the credibility of a decades-old asset manager behind them.
Underpinning it all is xStocks, which has processed over $30 billion in volume since its launch in 2025. The framework will serve as the basis for bringing more of these strategies online.
As our co-CEO Arjun Sethi said:
“Payward and Franklin Templeton are moving toward a financial model in which the distinction between traditional assets and digital infrastructure no longer exists. The convergence between these two worlds will only deepen, and collaborations like this unlock a new class of products that would not have been possible just three years ago: assets that carry the decades-old credibility of managers and the programmability of digital infrastructure.”
A tokenized gold ETF share in each participant’s account
During the community day, we put the partnership in the participants’ accounts. Literally.
Each eligible participant received one token share of the Franklin Templeton Gold ETF: approximately $200 of actual gold-backed exposure, deposited directly into their Kraken account.
We wanted attendees to have the experience of getting a regulated, gold-backed product from a global asset manager, settled on-chain, redeemable in seconds. No paperwork. No payment delays. No waiting during business hours.
For many participants, this was the first time they held a real-world token asset that they could actually move, send, or trade. A small but concrete preview of the broader work to come with Franklin Templeton.
What we bring home
Bermuda has made one thing clear: the line between traditional finance and digital finance is dissolving faster than the headlines suggest. Real assets are issued and settled on-chain. The largest institutions in the world choose their partners. And upcoming products, like gold, Treasuries, stocks and credit, are built for a financial system where access is global and settlement is instantaneous.
Thank you to everyone who joined us in Bermuda and to our new partners at Franklin Templeton for launching this next chapter with us. More soon.
xStocks are issued by Backed Assets (JE) Limited (a Jersey limited company) and offered to eligible Kraken customers via Payward Digital Solutions Ltd. (“PDSL”), a company authorized to carry out digital asset business by the Bermuda Monetary Authority. xStocks are not and will not be registered with any local securities regulator. PDSL (Kraken) does not provide investment advice and/or recommendations, and no communication, whether through any Kraken app or website or otherwise, should be construed as such. Individual investors should make their own decisions or seek independent professional advice if they are unsure about the suitability of an investment for their circumstances or needs, including potential tax treatment. Investing in xStocks involves an element of risk. The value of an investment can go up as well as down, and past performance is not a reliable indicator of future results. Not available in the United States or to U.S. persons. Geographic restrictions apply. Read Kraken’s xStocks Risk Disclosure at kraken.com/legal/xstocks as well as the Base Prospectus and the associated Final Terms for xStocks on to find out more.
