Sui Announces Partnership with Franklin Templeton to Boost Blockchain Development
Sui's new partnership with Franklin Templeton signals a push toward blockchain innovation, despite limited details on their collaboration.
Sui, a Layer-1 network, announced a new partnership with investment firm Franklin Templeton. This partnership includes capital investment in Sui and support for the firm’s blockchain development.
Despite a few vague details, the exact nature of the working relationship between the two companies remains unclear.
Sui Partners Franklin Templeton
Sui, the prominent Layer-1 blockchain, recently partnered with investment firm Franklin Templeton. This partnership will prioritize supporting a developer ecosystem rather than focusing directly on SUI development. The firm claimed Franklin Templeton has been supporting blockchain projects since 2018, and its CEO has espoused blockchain technology.
“Franklin Templeton Digital Assets has previously invested in the Sui ecosystem, and this new partnership will provide further benefit by seeking value creation opportunities to allow Sui builders to deploy novel technology onchain,” Sui claimed in a social media post.
As of yet, the firm has publicly revealed very few exact details about the partnership’s planned blockchain developments. Instead, the firm discussed several of its existing projects that attracted Franklin Templeton’s attention: its DeFi central limit order book, a decentralized mobile carrier, and an MPC network.
Still, this information does provide a few clues about the investment firm’s intentions. Earlier this year, Franklin Templeton explored DePin projects, considering them a possible lucrative development area. The firm has also been investing heavily in tokenization. It may help Sui by supporting its blockchain developers in these areas, especially DePin.
Sui, for its part, is performing quite well lately. It recently went on a remarkable bull run, climbing 74% in one month before hitting an all-time high on November 20. Yesterday, its blockchain stopped producing blocks for nearly two hours, but its token price remained impressively steady. These fundamentals could make Sui an attractive partner for Franklin Templeton.
One-Month Sui Bull Run. Source: BeInCryptoFranklin Templeton has not yet made any direct announcements about this partnership. Sui additionally posted a more developed press release, but it did not have substantially different information than the talking points in its main announcement. Suffice it to say that Franklin Templeton is investing in Sui blockchain development.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Official Trump Coin’s 415.65x Surge Causes Solana Congestion As Bulls Pivot To $12.4M Solaxy, Its First Layer-2 ICO
SEC Orders Ex-Genesis CEO to Pay $500K Penalty for Misleading Investors
Genesis suffered a $1 billion shortfall in 2022 due to the default of crypto hedge fund Three Arrows Capital (TAC).
Ahead of Trump's inauguration, experts weigh in on a 'pivotal moment' for crypto
Donald Trump will be sworn in as the 47th President of the United States later today, representing a “pivotal moment” for the crypto industry, according to experts.Establishing a bitcoin strategic reserve and commuting the sentence of Silk Road creator Ross Ulbricht are among the executive orders speculated for Trump’s first day.
'Trump inauguration euphoria' prompts $2.2 billion in crypto fund flows and AUM all-time high: CoinShares
Global crypto investment products attracted net inflows of $2.2 billion last week amid “Trump inauguration euphoria,” according to asset manager CoinShares.Last week’s inflows and positive price action were enough to propel total assets under management to an all-time high, CoinShares Head of Research James Butterfill noted.