Sui Foundation and Franklin Templeton Enter Into a Strategic Digital Assets Partnership
The $1 Trillion Asset Manager Embracing Sui’s Layer 1 Innovations to Tackle Industry Challenges
The Sui Foundation, an organization responsible for the growth of the Sui blockchain, has announced a groundbreaking partnership with Franklin Templeton.
This strategic alliance aims to drive innovation and empower ecosystem builders within the Sui blockchain by deploying novel technologies and creating value-driven opportunities.
Franklin Templeton, the $1 trillion asset management company, has always been at the forefront of blockchain development. With expertise in blockchain-based technology solutions, running node validators, and crafting investment strategies, Franklin Templeton’s partnership with Sui reveals a significant step forward for decentralized finance.
Franklin Templeton’s Vision for Sui
Tony Pecore, Franklin Templeton’s Senior Vice President and Director of Digital Asset Management says the company’s involvement in the Sui ecosystem stems from their recognition of its innovative technology. Blockchain technology has long intrigued technologists and economists, but technical limitations have hampered its growth. Sui’s innovations offer a promising solution.” he stated.
Sui’s advanced Layer 1 blockchain, especially renowned for its scalability and efficiency, aligns with Franklin Templeton’s mission to enhance decentralized finance. The blockchain’s key features such as massive parallelization, reduced transaction latency, and low gas fees positions it for a possible breakout in the blockchain space.
Jameel Khalfan, Head of Ecosystem Development at Sui, commented on the collaboration, stating, “Sui was originally inspired by challenges Franklin Templeton is helping to solve. Their engagement with Sui’s groundbreaking technology not only validates our efforts but also feels like a full-circle moment.”
The partnership follows a trend of increasing interest in blockchains from global investment firms. Earlier this year, Grayscale launched the Grayscale SUI Trust, and multiple stablecoins, including USDC, FDUSD, and AUSD, debuted on the Sui platform.
Promising Projects in the Ecosystem
According to Sui, Franklin Templeton’s enthusiasm is fueled by innovative projects in the blockchain ecosystem.
DeepBook, for example, is redefining DeFi as a central limit order book that facilitates seamless trading by recording bids and offers. Additionally, another project named Karrier One leverages decentralized networks to provide a cutting-edge mobile carrier solution, and Ika, a parallel multi-party computation network, enables secure and seamless cross-chain interactions.
Since the launch of its mainnet in May 2023, Sui has seen incredible growth. Over the past year, the network’s total value locked surged by 675%, while DeFi transaction volume grew by an astounding 956%. Sui is currently trading at $3.46 according to data from CoinGecko.
