VanEck Debuts SUI-based Financial Product
With a 70-year legacy of delivering investment solutions across various industries and asset classes, privately held VanEck now allows millions of customers to access SUI.
Investment firm VanEck has launched a new product that embodies SUI. VanEck, a prominent player in the financial sector, has expanded its offerings to include SUI. This token powers a revolutionary Layer 1 blockchain celebrated for its exceptional performance and limitless horizontal scalability alongside its existing Bitcoin, Ethereum, and Solana products. This fully collateralized financial instrument allows millions of investors to tap into SUI.
VanEcks latest offering opens the doors for millions to engage with SUI, eliminating the necessity of holding SUI in a crypto wallet. VanEck securely manages the SUI tokens within a regulated custodian framework, guaranteeing that the products value aligns with the value of the underlying tokens. Like other financial instruments, the latest VanEck product allows users to seamlessly enter and exit their investments.
The introduction of VanEcks SUI-backed offering marks a significant testament to institutional trust in Sui, especially in light of recent on-chain advancements. These encompass collaborations with platforms such as Copper, Zero Hash, and Fordefi, alongside stablecoins, including USDC, AUSD, and the stablecoin-adjacent USDY. In the last year, Sui has witnessed astonishing growth, with total value locked (TVL) skyrocketing by 430% and DeFi volume exploding by 692%. In August 2024, Grayscale, a leading player in the crypto asset management space, unveiled its Grayscale® Sui Trust, further solidifying its commitment to the evolving digital asset landscape.
We are excited to introduce this product as part of our growing portfolio of digital asset investment products, said Menno Martens, Crypto Specialist and Product Manager at VanEck. Suis proven track record and reputation as an industry leader, as well as its innovative and technological advancements, made this the next logical product to house in the portfolio. We believe this development will give investors a unique opportunity to access one of the most advanced blockchain networks available today.
The creation of this SUI-based product by VanEck is a pivotal moment for the Sui ecosystem and a significant vote of confidence in Suis technology and long-term vision, said Gap Kim, Head of Marketing for the Sui Foundation. VanEck is a trusted leader in the investment industry, and the decision to offer SUI as part of their product suite underscores the growing institutional interest in Sui.
To learn more, visit https://blog.sui.io/vaneck-investor-product/ or https://www.vaneck.com/.
Read more: https://zycrypto.com/vaneck-debuts-sui-based-financial-product/
Text source: ZyCrypto
