Franklin Templeton Digital Assets, the $1.5 trillion asset manager, has announced its strategic alliance with the Sui network. This partnership aims to aid the builders of the Sui ecosystem and introduce advanced Blockchain technologies, as revealed in a Sui press release.
The collaboration is specifically directed toward enhancing the Sui Blockchain protocol by providing support to its ecosystem builders. In terms of global investment companies, Franklin Templeton is not the first to exhibit interest in Sui’s ecosystem. Previously this year, Grayscale erected the Grayscale SUI Trust. Moreover, numerous stablecoins, including USDC, FDUSD, and AUSD have also been launched on Sui.
Jameel Khalfan, the Head of Sui’s Ecosystem Development, commented on the new alliance, stating that Franklin Templeton Digital Assets is assisting in resolving some of the hurdles that inspired the creation of Sui, particularly within the decentralized finance industry. He added that their interest in Sui’s innovative technology feels validating and completes a circle for Sui.
Since its launch in May 2023, the Sui Mainnet has experienced quick growth in the DeFi sector. In just a year, it has reported a 675 percent surge in total value locked (TVL) and a 956 percent rise in DeFi volume. The Sui platform offers numerous benefits for DeFi projects, from its massive parallelization capacity, which helps reduce transaction latency, to its rapid transaction processing, and consistently lower gas prices.
While Franklin Templeton has been expanding its presence in the digital asset industry since 2018, Blockchain plays a fundamental role in its growth strategy. The firm has also set up various teams to provide active support to ecosystems in which it has investments, including Sui.