VeChain (VET) Soars 33% on Institutional Partnerships with Franklin Templeton, BitGo, and Keyrock

VeChain (VET) surged 33% following the announcement of strategic partnerships with institutional giants Franklin Templeton, BitGo, and Keyrock. This collaboration is set to enhance Web3 infrastructure and drive tokenized asset adoption, utilizing Franklin Templeton's BENJI platform and its $800 million FOBXX fund for B2B transactions.

The VET price rebounded to $0.0253, breaking above key EMAs as institutional interest intensifies. After testing support at $0.0251—a 20% decline from July's peak—the token shows recovery signs amid broader market volatility. A decisive breakout above the descending trendline could indicate further upside potential.

This partnership marks a pivotal moment for enterprise blockchain adoption, positioning VeChain as the go-to Layer-1 infrastructure for institutional tokenization. The initiative benefits from clearer U.S. crypto regulations, providing additional momentum.