21Shares, a leading cryptocurrency exchange-traded product provider, is partnering with Sui to bring the blockchain network’s native token to more users.
Sui (SUI) and 21Shares have struck a strategic partnership that will see the exchange-traded funds issuer help expand SUI’s adoption across the globe.
The collaboration, revealed on Wednesday, May 14, comes as the ETP provider, which has a significant digital assets presence in Europe, seeks to expand into the U.S. market.
According to team Sui, Switzerland-based 21Shares is leveraging Sui to enter the American market. Institutional adoption of Sui amid fresh traction for decentralized finance and real-world assets could fuel further growth for SUI token.
“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.”
The partnership with Sui comes as 21Shares makes for a dash into the U.S. market that has become a little more attractive amid the pro-crypto stance of Donald Trump’s administration.
Speaking at the annual Sui Basecamp conference, 21Shares’ president Duncan Moir said:
“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.”
Layer-1 blockchain Sui offers transaction execution at sub-second finality and gets notable traction as developers tap into its network speed and scalability.
Per DeFiLlama, Sui’s total value locked in protocols currently sits around $2.06 billion, ranking as the eighth-largest chain by TVL. The L1 blockchain’s TVL has increased nearly 70% in the past month.
