According to Cointelegraph, asset management company Franklin Templeton has partnered with Sui to develop new blockchain technologies and applications. The partnership will prioritize supporting Sui ecosystem builders and deploying new technologies using the Sui blockchain protocol.
Franklin Templeton is actively expanding its tokenized securities products to new blockchain networks, including Ethereum’s Arbitrum and Base. Sui is a decentralized layer-1 blockchain focused on low-latency applications.
In 2024, Grayscale launched Grayscale SUI Trust, an investment fund focused on Sui’s native SUI token. Multiple stablecoins, including USD Coin (USDC), were also launched on Sui.
The total value of tokenized real-world assets (RWAs) has exceeded $12 billion, with a global market opportunity of $30 trillion. Franklin Templeton’s flagship tokenized money market fund, Franklin OnChain US Government Money Fund (FOBXX), has nearly $400 million in assets under management since its launch on the Stellar blockchain in 2021.
FOBXX’s main competitor is the BlackRock USD Institutional Digital Liquidity Fund, which has about $530 million in assets under management. Franklin Templeton is unique in that it outsources some of its reporting requirements to the public ledger of a blockchain network.
