SUI collaborates with 21Shares to broaden SUI utilization
Cashing in on Crypto: In an exciting move, leading crypto ETP provider, 21Shares, links up with Sui to put Sui's native token in the spotlight for a larger global audience.
Partnership Pushes Forward: On May 14, the strategic collaboration between Sui and 21Shares became official. With 21Shares having a robust presence in Europe's digital asset market, this partnership marks a step towards the U.S., objective being to capitalize on the pro-crypto stance of the Trump administration.
Sui's Momentum: Switzerland-based 21Shares has chosen Sui as their gateway to the American market. This partnership could lead to strong institutional growth for the Sui token, given recent hype around decentralized finance (DeFi) and real-world assets.
Federico Brokate, head of U.S. business at 21Shares, commented, "The future of blockchain lies with Sui, boasting impressive technical underpinnings, a flourishing DeFi ecosystem, and a strong institutional alignment."
Striding into the U.S.: As 21Shares moves into the U.S., the company is tapping into Sui's network to seize this opportunity. In a speaker session at the Sui Basecamp conference, Duncan Moir, president of 21Shares, expressed confidence in Sui's potential, stating, "We began researching Sui early on and feel it's one of the most promising blockchains in the industry. Our plans with Sui reflect not just conviction but also market demand."
Layer-1 Figure: Sui is a Layer-1 blockchain offering lightning-fast transaction execution at sub-second finality. Its popularity among developers is evident as they leverage its network speed and scalability. At present, Sui's TVL (total value locked) on DeFi protocols stands at $2.06 billion, placing it among the top eight L1 blockchains. In the last month, TVL has risen nearly 70%.
SUI and Adidas Team Up: An interestingdevelopment in the Sui ecosystem has been the announcement of a partnership between the SUI-based game XOCIETY and global sports apparel giant Adidas. This collaboration aims to create exclusive digital fashion items for the game, further emphasizing the potential of blockchain-based virtual assets.
Partnership Perks: This strategic alliance between 21Shares and Sui carries several key advantages:
- Product Development: The duo is jointly designing co-branded products and ETFs, using Sui's blockchain technology. Recently, 21Shares filed for a SUI ETF, which could offer market access and boost the SUI token's legitimacy.
- Market Expansion: The partnership targets institutional investors, seizing opportunities in favorable regulatory environments to increase Sui's adoption across the globe.
- Education and Research: Both entities will develop educational materials and research publications to spread awareness about Sui's potential applications, particularly in DeFi and real-world asset tokenization.
- Institutional Support: Sui's growing institutional backing adds to its clout in the $16 trillion real-world asset market, increasing its appeal to institutional investors.
The 21Shares-Sui partnership could potentially supercharge the growth of the SUI token by expanding its presence, enhancing its credibility, and attracting more institutional backers.
- The partnership between 21Shares and Sui aims to capitalize on the growing interest in cryptocurrency finance, with 21Shares using Sui's blockchain technology to design co-branded products and ETFs.
- The strategic alliance between the two entities also targets market expansion, focusing on institutional investors and seizing opportunities in favorable regulatory environments to increase Sui's adoption globally.
- In addition, both 21Shares and Sui will develop educational materials and research publications to spread awareness about Sui's potential applications, particularly in decentralized finance (DeFi) and real-world asset tokenization.
- With this partnership, Sui is tapping into the American market and leveraging 21Shares' presence in the European digital asset market, which could result in strong institutional growth for the Sui token.
