Sui has partnered with Franklin Templeton to foster DeFi innovation and ecosystem growth.
Key receivers
Franklin Templeton's partnership with Sui aims to overcome challenges in the DeFi space and grow the ecosystem. Sui has experienced impressive growth, with the token rising 380% and TVL to $1.6 billion in less than a year.
Share this article
Franklin Templeton Digital Assets has formed a strategic partnership with Sui to support ecosystem developers and deploy new technologies on the Sui blockchain protocol.
The partnership comes as Sui gains momentum in the Diffie sector, locking in the highest total value and holding the 8th blockchain, surpassing Avalanche, Polygon, HyperLiquid and Aptos.
Since the launch of MyNet in May 2023, Sui has grown over 675% in Total Value Locked (TVL), from $200 million at the beginning of this year to $1.6 billion.
Sui's native token has gained more than 380% this year, rising from $0.77 to $3.50, with a capitalization of $10 billion.
“Sui was originally inspired by Franklin Templeton because of some of the challenges that digital assets can help solve, particularly those in today's decentralized finance,” said Jameel Khalfan, Head of Ecosystem Development.
Tony Pekor, senior vice president and director of digital asset management at Franklin Templeton, noted that blockchain technology has attracted the attention of technologists and economists over the past decade, but it often faces technical limitations.
He expressed his delight at the innovation being done by Sui's team.
The partnership follows a growing institutional interest in Sui, which preceded Greyscale's establishment of the Greyscale SUI Trust.
Several stablecoins have launched on the platform, including USDC, FDUSD and AUSD.
Notable projects in the Sui ecosystem include Deepbook, a DeFi centralized limit order ledger, Karrier One, a decentralized mobile service provider, and Eka, a parallel MPC network with cross-chain connections.
Share this article
