Crypto.com announced a partnership with Sui Foundation, the organization dedicated to the advancement and adoption of Sui. This partnership will advance the ability to provide the Foundation and Ecosystem with “institutional-grade” custody and liquidity solutions for Sui’s native token.
Crypto.com Custody provides digital assets custody services to institutions and high-net-worth clients through a solution with “security at its core.”
As part of this collab, institutions and individuals using Crypto.com can now store and manage SUI tokens, benefiting from “regulated custody infrastructure that features cold storage with enhanced security, transparent audit trails, and streamlined compliance processes.”
Clients will also have access to Crypto.com’s liquidity pool for cost-efficient conversions.
Eric Anziani, President and Chief Operating Officer of Crypto.com said that their compliant infrastructure “gives institutional and high-net-worth clients the confidence they need to engage … confidently.”
Sui reportedly aims to deliver the benefits of Web3 with the “ease” of Web2, offering “predictable fees, and infrastructure for devs and enterprises.”
The SUI token powers network operations, “secures the blockchain via validator staking, and enables the creation and transfer of dynamic onchain assets.” Institutional interest is rising, with “new trusts, ETNs, ETF applications, and a publicly traded treasury vehicle expanding access to the Sui ecosystem across global markets.”
Christian Thompson, Managing Director at Sui Foundation has said that Sui’s momentum with institutions is “compounding, and it’s [great] to see crypto’s infrastructure providers rally around the ecosystem.”
Founded in 2016, Crypto.com is used by people worldwide and their vision is: Cryptocurrency in Every Wallet.
Sui is a Layer 1 blockchain and smart contract platform designed to make digital asset ownership accessible. Its object-centric model, based on the Move programming language, enables “parallel execution, sub-second finality, and rich on-chain assets.”
With scalable processing and storage, Sui claims it supports a range of apps with speed at relatively low cost. Sui is described as a so-called step-function advancement in blockchain and a platform on which creators and devs are able to build engaging experiences.
