As a seasoned researcher with a keen eye for emerging trends and technologies, I find the partnership between Franklin Templeton and Sui particularly intriguing. Having closely followed the growth of blockchain technology and its various applications, I have witnessed the transformative potential it holds for traditional finance.
Franklin Templeton, an asset management company, has teamed up with Sui for the purpose of creating innovative blockchain solutions and potential applications within the layer-1 network, as announced by Sui on November 22nd.
The alliance aims to focus on empowering creators within the Sui ecosystem and implementing innovative technology using the Sui blockchain network, according to Sui.
Franklin Templeton is actively growing its range of tokenized security offerings by integrating them with additional blockchain platforms such as Ethereum’s layer-2 solutions, specifically Arbitrum and Base.
Sui is a blockchain platform built with quick smart contract implementation in mind and is sometimes referred to as a competitor to Solana (SOL), due to its emphasis on high-speed applications with minimal latency.
As an analyst in 2024, I was part of the team that witnessed the launch of Grayscale’s investment vehicle, the Grayscale SUI Trust. This innovative fund was designed with a focus on Sui’s native token, SUI. Furthermore, several stablecoins such as USD Coin (USDC) made their debut on the Sui platform, signifying a significant expansion of digital assets within its ecosystem.
On Nov. 21, the Sui blockchain went down with no blocks being produced for more than an hour.
Assets from the real world that have been tokenized, such as claims on financial assets, commodities, or artwork, currently hold a combined value of over $12 billion, as reported by RWA.xyz.
Worldwide, the market they’re involved in offers a potential value of about $30 trillion, as stated by Colin Butler, Head of Institutional Capital at Polygon, during his conversation with CryptoMoon in August.
In the year 2021, Franklin Templeton introduced its primary tokenized money market fund, known as the Franklin OnChain US Government Money Fund (FOBXX), which was first made available through the Stellar blockchain network at launch.
Since then, FOBXX has drawn nearly $400 million in assets under management (AUM).
According to data from RWA.xyz, FOBXX’s main competitor is the BlackRock USD Institutional Digital Liquidity Fund, managing around half a billion dollars in assets.
Franklin Templeton stands out from other tokenized fund managers by delegating a significant part of its reporting duties, including maintaining share ownership records usually managed by traditional transfer agents, to publicly accessible blockchain networks’ ledgers.
Roger Bayston, from Franklin Templeton, stated to CryptoMoon in July that our product is currently the sole one capable of employing distributed ledger technologies publicly for maintaining official transaction records.
Read More
- DYM PREDICTION. DYM cryptocurrency
- CYBER PREDICTION. CYBER cryptocurrency
- ZK PREDICTION. ZK cryptocurrency
- JASMY PREDICTION. JASMY cryptocurrency
- POPCAT PREDICTION. POPCAT cryptocurrency
- Top gainers and losers
- SKEY PREDICTION. SKEY cryptocurrency
- TURBO PREDICTION. TURBO cryptocurrency
- BNB PREDICTION. BNB cryptocurrency
- XRP PREDICTION. XRP cryptocurrency
2024-11-22 22:00