Originally published on: November 22, 2024
Franklin Templeton, a prominent asset manager, has joined forces with Sui to embark on an exciting journey of developing innovative blockchain technologies and applications on the layer-1 network. This groundbreaking partnership aims to empower Sui ecosystem creators and introduce cutting-edge technologies utilizing the Sui blockchain protocol.
While specific details about the collaboration remain undisclosed, the emergence of Franklin Templeton in the blockchain realm signals a significant milestone in the industry. Recently, Franklin Templeton introduced its flagship tokenized money market fund, Franklin OnChain US Government Money Fund (FOBXX), on the Aptos network. Subsequently, the fund expanded its reach by launching on Coinbase’s layer-2 network, Base, within a month.
Sui, renowned for its decentralized layer-1 blockchain tailored for swift smart contract deployment, has garnered attention as a potential Solana competitor due to its emphasis on low-latency applications.
In a strategic move, asset manager Grayscale introduced the Grayscale SUI Trust in 2024, focusing on Sui’s native SUISUI token. Additionally, several stablecoins, including USD Coin (USDC), have found a new home on the Sui network.
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