Sui, a Layer-1 blockchain network, has teamed up with investment firm Franklin Templeton. This partnership involves capital investment in Sui and aims to support blockchain development.
While the details are a bit vague, the focus will be on building a developer ecosystem rather than just advancing SUI development. Sui noted that Franklin Templeton has been active in blockchain projects since 2018. Their CEO is a strong advocate for blockchain technology.
According to Sui, “Franklin Templeton Digital Assets has previously invested in the Sui ecosystem. This new partnership will create more value opportunities for Sui builders to deploy innovative technology on-chain.”
So far, the firm hasn’t shared many specifics about the planned blockchain developments. Instead, they highlighted several existing projects that caught Franklin Templeton’s eye. These include a decentralized finance (DeFi) central limit order book, a decentralized mobile carrier, and a multiparty computation (MPC) network.
This gives us some insight into Franklin Templeton's interests. Earlier this year, they looked into decentralized physical infrastructure networks (DePin) as a promising area for growth. They have also invested heavily in tokenization, which could benefit Sui by supporting its blockchain developers, especially in the DePin sector.
Sui has been doing well lately. It recently experienced a significant bull run, climbing 74% in a month and hitting an all-time high on November 20. Even after a two-hour halt in block production yesterday, the token price remained steady. These strong fundamentals make Sui an appealing partner for Franklin Templeton.
As of now, Franklin Templeton hasn’t made any direct announcements about this partnership. Sui did release a more detailed press release, but it doesn’t offer much new information beyond the initial announcement. It’s clear that Franklin Templeton is investing in the development of the Sui blockchain.