Originally published on: November 22, 2024
Asset management giant Franklin Templeton has joined forces with Sui to revolutionize blockchain technologies on the layer-1 network. The collaboration aims to develop innovative use cases and support Sui ecosystem builders in deploying cutting-edge technologies based on the Sui blockchain protocol.
While specific details of the partnership are yet to be revealed, Franklin Templeton’s increasing involvement in the blockchain space signals a major shift in the industry. Recently, the company launched its flagship tokenized money market fund, Franklin OnChain US Government Money Fund (FOBXX), on the Aptos network. Subsequently, FOBXX was introduced on Coinbase’s layer-2 network, Base, showcasing Franklin Templeton’s commitment to blockchain innovation.
Sui, known for its decentralized layer-1 blockchain optimized for rapid smart contract deployment, is often referred to as a Solana killer due to its focus on low-latency applications. With the launch of Grayscale SUI Trust in 2024 and the introduction of stablecoins like USD Coin on Sui, the blockchain ecosystem is witnessing rapid growth and adoption.
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