21Shares, a product provider traded on major cryptocurrency exchanges, has partnered with SUI to provide native tokens for blockchain networks to more users.
SUI (SUI) and 21 shares attacked strategic partnerships that helped issuers of exchange sales funds to expand adoption of SUI around the world.
The collaboration, revealed on Wednesday, May 14, aims to expand into the US market as an ETP provider with a significant digital asset presence in Europe.
According to Team SUI, Switzerland-based 21Shares has been using SUI to enter the American market. With the fresh traction for decentralized finance and real-world assets, the institutional adoption of SUIs could drive further growth of SUI tokens.
“The partnership with SUI talks about where we can see the future of blockchain infrastructure headlines,” said Federico Brokate, US Business Director at 21Shares. “We believe SUI has a technical foundation, a Defi and developer ecosystem, and institutional alignment to play a central role in Crypto for a long time.”
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The partnership with SUI will be a dash into the US market where 21 shares have become a little more appealing amid the pro-cryptic attitude of Donald Trump's administration.
At the annual SUI Basecamp Conference, President Duncan Moir of 21Shares said:
“Since the early studies of SUI, we believe it could become one of the most exciting blockchains in the industry, and we see the papers occur. We operate on not only convictions but also investor demand, and our planned roadmap using SUI reflects both.”
Layer-1 Blockchain SUI provides transaction execution with a 2-second finality, and gets outstanding traction when developers take advantage of network speed and scalability.
According to Defillama, the total value trapped in SUI's protocol is currently around $2.06 billion, ranking TVL as the eighth largest chain. TVL on the L1 blockchain has increased by nearly 70% over the past month.
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