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Alex O’Donnell
Nov 22, 2024


SUI, FRANKLIN TEMPLETON LAUNCH ECOSYSTEM PARTNERSHIP

The asset manager will support builders on Sui and pilot emerging blockchain
technologies on the network. 

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Asset manager Franklin Templeton has partnered with Sui to develop new
blockchain technologies and use cases on the layer-1 network, Sui said on Nov.
22.

The partnership will prioritize “supporting Sui ecosystem builders and deploying
novel technologies leveraging the Sui blockchain protocol,” Sui said.

While the announcement did not detail specific plans for the partnership,
Franklin Templeton’s emerging role in the blockchain space is significant.

As Cointelegraph recently reported, Franklin Templeton launched its flagship
tokenized money market fund, Franklin OnChain US Government Money Fund (FOBXX),
on the Aptos network. Less than a month later, it launched FOBXX on Coinbase’s
layer-2 network, Base.

Cointelegraph reached out to Sui for more details on its partnership with
Franklin Templeton but did not receive an immediate response.


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Sui is a decentralized layer-1 blockchain designed for rapid smart contract
deployment. It is often dubbed a Solana killer because of its focus on
low-latency applications.

RWA value by segment. Source: RWA.xyz

Related: Franklin Templeton launches tokenized money fund on Base

In 2024, asset manager Grayscale launched Grayscale SUI Trust, an investment
fund focused on Sui’s native SUI SUI $3.45 token. Multiple stablecoins,
including USD Coin USDC $0.9993 , also launched on Sui.

Magazine: Crypto has 4 years to grow so big ‘no one can shut it down’: Kain
Warwick, Infinex

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Subscribe to our Crypto Biz newsletter

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