- The two-year-old layer-1 blockchain and the financial services provider of digital assets will work together to create new infrastructure opportunities.
With a partnership with custody, prime, and collateral services provider Copper, the Sui network will increase the amount of custody it can offer. Sui wants to make itself more appealing to institutional investors.
Sui announced in a statement that Sui-native coins, such the stablecoin Ondo USD Yield (USDY), already have access to Copper custody assistance.
Sui looks for tangible assets
Clients issuing stablecoins and real assets will have more alternatives with the introduction of new custodial features for staking and other decentralized financial tasks.
Mysten Labs, a US-based company, created the layer-1 blockchain and smart contract platform Sui, which was unveiled in March 2022. Previously employed Meta executives created Mysten. In April, Sui worked with BytePlus, a branch of ByteDance, the business that owns TikTok, to enhance scalability and data processing.
Greater proportion of a large market
First Digital Group, based in Hong Kong, has been offering an unwrapped native stablecoin called FDUSD on Sui since April. Custodial services like BitGo, Anchorage, and Coinbase Prime are in charge of managing Sui’s (SUI) coin.
ClearLoop technology is used by Copper, a UK-based service, to manage collateral and settle trades. Billionaire Alan Howard, a co-founder of asset manager Brevan Howard, has invested in it, helping it to expand in the traditional financial business. Launched in November, the Copper Securities division trades tokenized securities on the Abu Dhabi Global Market.
The market capitalization of tokenized real assets has surpassed $8 billion. These consist of real estate, government securities, commodities, private equity, and other financial commitments.
With its U.S. BlackRock’s U.S. Government Bond Fund is a tokenized derivative. Treasurys ETF, which is composed of short-term U.S. Treasurys, Ondo is the third-largest issuer of tokenized assets and has produced noticeably high returns.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
