One of America’s biggest banks is getting involved with one of the fastest growing blockchains in crypto. But, why?
What’s happening:
- The Sui Foundation and Franklin Templeton Digital Assets have announced a new partnership focused on accelerating technological innovation and new applications being built on the Sui blockchain
Why it matters:
- Sui has become one of the fastest growing blockchains in the digital asset ecosystem, largely due to its scalability and parallel transaction processing capabilities that have made it well suited for decentralized finance applications
- Some of the most notable crypto investors in the world are early backers of Sui, including Coinbase (NASDAQ: COIN), Binance Labs, Jump Crypto and Circle Ventures
Going deeper:
- The Sui ecosystem has seen a flurry of popular applications and protocols being built lately, including decentralized exchange Cetus and lending market Scallop
The intrigue:
- Grayscale has a private investment fund focused exclusively on providing exposure to Sui, which has a similar structure to their recently launched private investment fund focused on the convergence of artificial intelligence and crypto
