• The Sui Foundation has partnered with BitGo, a leader in custody and security solutions.
• BitGo will provide custodial and non-custodial wallets to holders of SUI tokens and the Sui Foundation treasury.
• The partnership between BitGo and the Sui Foundation is part of the goal of broadening the number of people interacting with the Sui ecosystem and advancing Web3 adoption.
Partnership between Sui Foundation & BitGo
The Sui Foundation has partnered with BitGo, a leader in custody and security solutions, to offer holders of SUI tokens custodial and non-custodial wallets on their platform. This partnership will make it easier for users to store and stake their assets in a secure way. Additionally, this collaboration represents an effort to expand the reach of the Sui ecosystem by making it more accessible to institutions and individuals alike.
Sui Treasury Held in Qualified Custody
The Sui Foundation also announced that its own treasury would be held in qualified custody with BitGo. Part of this treasury will be staked using BitGo’s wallets, further solidifying this unique partnership. This move not only shows commitment from both parties towards widening the scope of the Sui ecosystem but also provides institutional-grade custody for all participants involved.
BitGo Adds Support for SUI Token
BitGo adds SUI to a growing list of over 600 tokens that it currently supports on its platform, demonstrating increasing interest among institutions for access to complex blockchains such as SUI’s high-speed protocol. Sal Ternullo from Warburg Serres Investments stated his excitement regarding BitGo’s services which will allow them “to continue [their] investments across this next chapter of growth and development”.
Advancement Towards Mass Web3 Adoption
Evan Cheng, Co-Founder & CEO at Mysten Labs expressed his enthusiasm towards this new development stating how it could help advance their goal “of mass Web3 adoption”. Similarly Mike Belshe, CEO at Bitgo pointed out how they are “excited to deliver community members safe and reliable custody and staking services”.
To conclude, by partnering together both parties are looking forward towards furthering the goals set out by the Sui Protocol developers – namely promoting wider use cases within its ecosystem while providing institutional grade safety measures for all participants involved.