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    Franklin Templeton Partners with Sui to Develop Innovative Blockchain Applications

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    Asset manager Franklin Templeton has partnered with Sui to explore new blockchain applications. The collaboration aims to create novel technologies with Sui’s blockchain technique. Franklin Templeton is extending its reach into tokenized security products and launching them on new blockchain platforms like Arbitrum and Base. Sui is a decentralized layer-1 blockchain suitable for deploying smart contracts quickly. Franklin Templeton launched its flagship tokenized fund in 2021, and it currently oversees nearly $400 million in assets. The firm has a unique approach to offloading several reporting responsibilities onto public ledgers of blockchain networks.

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    Franklin Templeton, an asset management firm, has teamed up with Sui to create and explore new uses for blockchain technology on the Sui’s foundation network. The partnership aims to provide support to those building within the Sui ecosystem and develop fresh technologies using Sui’s blockchain technique.

    Franklin Templeton is diving headfirst into tokenized security products and bringing them to new blockchain systems, like Arbitrum and Base on the Ethereum platform.

    Sui is known for its decentralized layer-1 blockchain that is ideal for launching smart contracts promptly. It’s often referred to as the Solana buster due to its low-latency apps focus.

    In 2024, Grayscale, another asset manager, introduced Grayscale SUI Trust, a fund that puts its focus on Sui’s native token, the SUI. Several stablecoins, including the USD Coin, also made their debut on Sui. Just a day prior to the partnership announcement, Sui’s blockchain experienced a downtime with no blocks being produced for over an hour.

    Tokenized real-world goods, which can include financial assets, commodities or art, command over $12 billion in total locked value, according to RWA.xyz. The global market potential for such tokens is estimated to be around $30 trillion.

    Franklin Templeton launched their flagship tokenized money market fund, the Franklin OnChain US Government Money Fund (FOBXX), in 2021 using the Stellar blockchain. So far, FOBXX has attracted nearly $400 million in assets for management. The main competitor to FOBXX is BlackRock’s USD Institutional Digital Liquidity Fund, which has approximately $530 million in assets under management.

    Franklin Templeton has a unique approach among tokenized fund managers by offloading a significant portion of reporting requirements, like share ownership records – usually managed by an offchain transfer agent – to public ledgers of blockchain networks.

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