Sui Foundation partners with Crypto.com to enhance institutional-grade SUI custody

Sui Foundation taps Crypto.com to enhance institutional-grade custody for SUI

  • The collaboration aims to boost liquidity and institutional custody for SUI assets.
  • It offers compliant cold storage, regulatory-ready solutions, and transparent audits.
  • SUI gained nearly 5% the past week.

Crypto.com exchange revealed a strategic collaboration with the Sui Foundation, which handles the thriving Sui blockchain.

According to the official announcement, the move aims to expand liquidity, institutional-level custody, and compliance for the platform’s native coin, SUI.

With this alliance, wealthy individuals and enterprises using Crypto.com can store and manage their SUI holdings in a secure and regulated custody environment.

That comprises transparent audit trails, cold storage security, and streamlined regulatory procedures, bolstering customer confidence in asset safety and compliance.

Crypto.com’s president and COO Eric Anziani commented on the partnership, saying:

We’re excited to provide secure custody and liquidity solutions for the SUI token to the Sui Ecosystem. Our rigorously compliant infrastructure gives institutional and high-net-worth clients the confidence they need to engage securely and confidently.

Most importantly, individuals will have access to Crypto.com’s robust liquidity pool, offering cost-efficient and faster conversions. That’s a crucial element for clients operating in institutional trading setups or managing massive portfolios.

Sui thrives in institutional adoption

The Crypto.com collaboration comes as the Sui blockchain experiences amplified appetite from institutional investors.

The network offers predictable, user-friendly fees and an innovative infrastructure designed for enterprises and developers.

The project has seen an increase in institutional products in recent months, including ETF filings, ETNs, and Trusts.

These continue to push SUI into regulated markets, positioning the altcoin as a vital player in blockchain evolution.

Yesterday, Nasdaq-listed SUI Group partnered with Bluefin to propel institutional adoption of digital products tied to the Sui network.

Meanwhile, the Crypto.com alliance signals a crucial step for the Sui Foundation in creating a compliant environment for institutional participation.

The move improves the blockchain’s ability to onboard wealthy investors and businesses looking to interact with SUI in a compliant way.

Commenting on Crypto.com’s deal, Sui Foundation’s Managing Director Christian Thompson said:

We’re pleased a top-tier platform like Crypto.com now supports SUI custody, providing a crucial on-ramp for institutions and high-net-worth clients. Sui’s momentum with institutions is compounding, and it’s incredible to see crypto’s leading infrastructure providers rally around the ecosystem.

Notably, the strategic alliance fills the gap between Sui’s innovative offerings and the financial setups that require enterprise-level oversight.

Regulated global ecosystems like Crypto.com can help the Sui Foundation cement its credibility and visibility in TradFi.

SUI price outlook

The native token is hovering at $2.10 after gaining nearly 5% the past seven days.

However, SUI has dropped around 3% of its value today, as the broader market corrects after yesterday’s rally.

Meanwhile, prevailing institutional interest positions SUI for remarkable long-term growth.

As the cryptocurrency industry matures, collaborations that combine compliance and innovation will likely shape the future of blockchain technology.

Source: https://coinjournal.net/news/sui-foundation-partners-with-crypto-com-to-enhance-institutional-grade-sui-custody/