Sui Enters Strategic Partnership with Franklin Templeton Digital Assets
Through the partnership, Franklin Templeton Digital Assets will support Sui ecosystem builders and deploy novel technologies.
Sui has entered into a strategic partnership with Franklin Templeton Digital Assets focused on supporting Sui ecosystem builders and deploying novel technologies leveraging the Sui blockchain protocol.
Since 2018, Franklin Templeton Digital Assets has been building blockchain-based technology solutions, running node validators, and developing a wide range of investment strategies. The firm’s dedicated digital assets research team leverages fundamental tokenomic analysis, insights from an embedded data science team and deep industry connections to help inform product development and investment decisions.
Examples of the projects in the Sui ecosystem that excited the team at Franklin Templeton include Deepbook, called DeFi’s answer to a central limit order book, or what exchanges use to facilitate buying and selling between traders by recording bids and offers, as well as Karrier One, the decentralized mobile carrier behind the Karrier One DePin network, and Ika, a parallel MPC network that enables seamless and secure cross-chain interactions.
Greg Scanlon, Managing Principal at Franklin Templeton Venture Capital, discusses Franklin Templeton's approach to digital assets during Sui Basecamp 2024.
The partnership between Franklin Templeton and Sui tracks a trend showing growing interest by global investment companies. Previously this year, asset management company Grayscale established the Grayscale SUI Trust, while multiple stablecoins, including USDC, FDUSD, and AUSD, have launched on Sui.
Since Sui Mainnet launch in May, 2023, the network has shown rapid growth in the DeFi sector. Over the past year it recorded 675 percent growth in total value locked (TVL) and 956 percent growth in DeFi volume. DeFi projects on Sui benefit greatly from its massive parallelization, minimizing transaction latency, quick transaction processing times, and consistently low gas fees.
Note: This content is for general educational and informational purposes only and should not be construed or relied upon as an endorsement or recommendation to buy, sell, or hold any asset, investment or financial product and does not constitute financial, legal, or tax advice.
