Ondo

United

DeFi

Foundation

The Sui network will expand its custody capacities through a deal with custody, prime and collateral services provider Copper. Sui is looking to increase its attractiveness to institutional finance.
Sui said in a statement that Copper custody support is already available for Sui-native tokens such as the Ondo USD Yield (USDY) stablecoin.
<h2 data-ct-non-breakable="true" id="sui-reaches-for-real-world-assets">Sui reaches for real-world assets</h2>
New custody features for staking and other decentralized finance functions will be rolled out that will enhance the options for clients issuing stablecoins and real-world assets. Sui Foundation managing director Greg Siourounis told Cointelegraph:
<blockquote data-ct-non-breakable="true">
 “Copper’s presence on Sui immediately improves its infrastructure by incorporating enterprise-level custodial solutions, which is an important prerequisite to onboarding large institutions. As TradFi continues to lean into crypto, Sui is now firmly in the conversation as a top destination to store and deploy digital assets.”
</blockquote>
Related: <a href="https://cointelegraph.com/news/blockchain-revolutionize-digital-securities-management-stock-exchanges" rel="noopener noreferrer nofollow">Can blockchain revolutionize digital securities management for stock exchanges?</a>
Sui is a layer-1 blockchain and smart contracts platform developed by United States-based Mysten Labs and introduced in March 2022. Mysten was founded by former Meta executives. In April, Sui <a href="https://cointelegraph.com/news/tik-tok-parent-company-explores-on-chain-web3-gaming-ai" rel="noopener noreferrer nofollow">partnered with BytePlus</a>&nbsp;— an arm of TikTok parent company, ByteDance — to boost its scalability and data processing.
<h3 data-ct-non-breakable="true" id="a-bigger-share-of-a-big-market">A bigger share of a big market</h3>
Since April, Sui has also been <a href="https://blog.sui.io/fdusd-stablecoin-sui-debut/" target="_blank" rel="noopener noreferrer nofollow">home</a> to FDUSD, an unwrapped native stablecoin <a href="https://cointelegraph.com/news/hong-kong-based-first-digital-group-launches-redeemable-usd-backed-stablecoin" rel="noopener noreferrer nofollow">offered by the Hong Kong-based</a> First Digital Group. Sui’s (SUI) token&nbsp;<a href="https://cointelegraph.com/news/sui-network-clears-up-misunderstandings-on-token-supply" rel="noopener noreferrer nofollow">is managed by custodial</a> services like BitGo, Anchorage and Coinbase Prime.
<figure data-ct-non-breakable="true"><img src="https://s3.cointelegraph.com/uploads/2024-06/56fa211a-cd5c-4a7c-991c-2242c3c8f013.png" alt="" title="">
 <figcaption style="text-align: center;">Source: <a href="https://x.com/SuiNSdapp/status/1802849124985004411" target="_blank" rel="noopener noreferrer nofollow">Sui</a>
 </figcaption>
</figure>
Copper is a United Kingdom-based service whose ClearLoop technology is used to settle trades and manage collateral. Its expansion in the traditional finance market has been facilitated by investments from billionaire Alan Howard, co-founder of asset manager Brevan Howard. Its Copper Securities arm was launched in November and <a href="https://cointelegraph.com/news/former-british-chancellor-crypto-firm-copper-launches-tokenized-securities-platform" rel="noopener noreferrer nofollow">offers tokenized securities</a> in the Abu Dhabi Global Market.
Tokenized real-world assets have reached a market cap of $8 billion. They <a href="https://cointelegraph.com/news/why-tokenized-real-world-assets-are-soaring" rel="noopener noreferrer nofollow">include private equity</a>, real estate, government securities, commodities and other financial obligations.
Ondo is the third-largest issuer of tokenized assets and has achieved notably high returns, thanks in large part to its U.S. Government Bond Fund, which is a tokenized derivative of BlackRock’s U.S. Treasurys ETF, which in turn consists of short-term U.S. Treasurys.
Magazine: <a href="https://cointelegraph.com/magazine/justin-suns-sui-farming-sins-pepes-wild-run-3acs-oyster-philosophy-asia-express/" rel="noopener noreferrer nofollow">Justin Sun’s SUI-farming sins, PEPE’s wild run, 3AC’s oyster philosophy: Asia Express</a>

Sui expands custody with Copper to attract institutional finance

Mục lục

Cointelegraph

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