The Sui network, a two-year-old layer-1 blockchain, is partnering with Copper, a provider of digital asset financial services, to expand its custody capabilities and attract more institutional finance.
Partnership Details
Sui has announced that Copper’s custody support is now available for Sui-native tokens, including the Ondo USD Yield (USDY) stablecoin. This partnership aims to enhance Sui’s infrastructure and appeal to large financial institutions by offering enterprise-level custodial solutions.
Focus on Real-World Assets
The new custody features will support staking and other decentralized finance (DeFi) functions, providing more options for clients dealing with stablecoins and real-world assets. Greg Siourounis, Managing Director of the Sui Foundation, commented:
“Integrating Copper’s custodial solutions into the Sui network significantly improves our infrastructure. This development is crucial for onboarding large institutions as traditional finance continues to engage with the crypto space. With Copper, Sui is now a leading choice for storing and deploying digital assets.”
Summary Review: By collaborating with Copper, Sui is taking significant steps to bolster its custodial services, thereby making itself more attractive to institutional investors. This move not only enhances Sui’s infrastructure but also positions it as a competitive player in the expanding world of digital assets and decentralized finance.
Disclaimer: Remember that nothing in this article and everything under the responsibility of Web30 News should be interpreted as financial advice. The information provided is for entertainment and educational purposes only. Investing in cryptocurrency involves inherent risks and potential investors should be aware that capital is at risk and returns are never guaranteed. It is imperative that you conduct thorough research and consult with a qualified financial advisor before making any investment decision.
