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Sui has joined forces with Franklin Templeton Digital Assets in a bid to drive blockchain innovation and foster growth within the Sui ecosystem.
Sui and Franklin Templeton Forge Blockchain Development Alliance
As a layer-one (L1) blockchain, Sui’s latest collaboration with Franklin Templeton highlights the growing interest of established financial institutions in exploring the potential of digital assets.
Franklin Templeton, active in the digital asset sector since 2018, brings extensive blockchain expertise to the table. The firm’s capabilities include node validation, tokenomics analysis, and the use of data science in blockchain research. In its statement, the Sui Foundation noted that the partnership aims to harness Sui’s blockchain protocol for groundbreaking solutions.
The Sui ecosystem, which boasts projects such as Deepbook—a decentralized finance (defi) platform—and Karrier One, a decentralized mobile carrier network, caught Franklin Templeton’s attention. Another standout project is Ika, a multi-party computation network facilitating secure cross-chain transactions. These ventures underscore Sui’s commitment to tackling scalability and interoperability challenges in blockchain technology.
Since launching its mainnet in May 2023, the Sui Foundation reports significant growth in decentralized finance. The network has seen a 675% rise in total value locked and a 956% increase in transaction volume, which the team attributes to features like parallel processing, swift transaction speeds, and consistently low fees.
The partnership with Franklin Templeton signals a deepening embrace of blockchain by mainstream financial players. Earlier in the year, Grayscale Investments introduced the Grayscale SUI Trust, while stablecoins such as USDC and FDUSD became operational on the Sui network.