Skip to content
- 21Shares teams up with Sui to bring its high-performance blockchain technology to the U.S. market.
- Sui’s blockchain, known for rapid transactions, sees a 70% surge in total value locked, attracting more developers.
- The partnership positions 21Shares to expand its influence in the growing decentralized finance space.
21Shares, one of the leading crypto exchange-traded products (ETP) providers, has partnered with Sui, a high-performance Layer-1 blockchain, to make its native token, SUI, available to a wider global audience. The partnership announced on May 14 is the critically needed step for both companies that seek further expansion of their outreach into the vibrantly developing blockchain field, and in particular, in the U.S. market.
21Shares, based in Switzerland, seeks to contribute significantly to the development of Europe’s digital asset market. The company has now come to the U.S, where its margins become quite viable because of the pro-crypto regulatory environment. Through a partnership with Sui, 21Shares wants to enter the decentralized finance (DeFi) market as well as bring company advanced technology to wider masses.
“Partnering with Sui speaks to where we see the future of blockchain infrastructure heading,” said Federico Brokate, head of U.S. business at 21Shares. “We believe Sui has the technical underpinnings, DeFi and developer ecosystems, and institutional alignment to play a central role in crypto for a long time.”
Sui’s Speedy Transaction Finality
Sui’s blockchain is reputed for speedy transactions that do not take more than a second to finalize, with amazing scalability. These features have appealed to developers with interests in performance-oriented and effective solutions for DeFi applications.
According to DeFiLlama, Sui’s TVL is $2.06 billion and it is the eighth-largest blockchain in terms of TVL. Its TVL has increased by almost 70% over the past month, with an increase in institutional demand and developer participation.
Duncan Moir, president of 21Shares, said at the annual Sui Basecamp conference:
“Since our earliest research into Sui, we believed it could become one of the most exciting blockchains in the industry, and we’re seeing that thesis play out. We operate based on conviction but also investor demand, and our planned roadmap with Sui is a reflection of both.”
This partnership couldn’t have taken place at a better time, as the U.S. market has become more crypto-friendly, primarily because of recent regulatory changes. The partnership with company puts 21Shares in a position to lead blockchain innovation and DeFi adoption in the region as it works towards increasing its influence in the region.
Collectively, 21Shares and Sui will revolutionise the blockchain industry. With a common goal for the future, they intend to promote the token of SUI across the globe while staying at the forefront of the ever changing crypto landscape.
