Copper & Sui partner to build out full institutional accessibility
London, UK, June 26th, 2024, Chainwire
The integration with Sui includes custody support for L1 and L2, built-in staking support, and DeFi connectivity.
Copper, a leader in digital asset custody, collateral management, and prime services, is excited to announce its latest integration with Sui, a high-performance Layer 1 blockchain and smart contract platform. The strategic partnership will enable robust custody infrastructure support for stablecoin and Real-World Asset (RWA) issuers on Sui such as Ondo (USDY), marking a significant advancement in connecting institutional finance to on-chain opportunities on the Sui Network.
With Copper on board, the Sui ecosystem now has built additional foundational infrastructure necessary to enable institutional players to leverage Suis industry-leading decentralized technology platform, addressing the need for financial institutions seeking efficient treasury services for their tokens.
This strategic partnership, integrating Coppers enterprise-grade custody tooling, exemplifies the continued maturation of the Sui ecosystem into a platform capable of supporting the heightened infrastructure needs of Suis institutional builders and users, said Greg Siourounis, Managing Director of the Sui Foundation. We are truly excited about the number and diversity of new projects and assets this partnership will enable for both the Copper and Sui ecosystems.
The first phase of support, encompassing SUI and native Sui-tokens is currently complete, making Copper a custodian for these assets. The immediate availability of Coppers infrastructure on Sui means it is ready to serve the needs of large institutional traders and market makers today. Further features in staking and DeFi are in development and will be integrated soon, significantly expanding the functionality of Coppers offerings on Sui.
Were excited to be a part of the SUI ecosystem with Copper as custodian, commented Dmitry Tokarev, CEO of Copper. With staking and DeFi features currently in development, were looking forward to the evolution of this partnership.
ContactSui Foundationmedia@sui.io
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Read more: https://cryptodaily.co.uk/2024/06/copper-sui-partner-to-build-out-full-institutional-accessibility
Text source: Crypto Daily™
