Swiss Banks Boost SUI Coin with Comprehensive Services

A prominent Swiss crypto asset bank, Sygnum, is launching an array of services related to the SUI network aimed at institutional investors. These services encompass custody, trading, and credit facilities, designed to extend the reach of regulated investments in SUI within Switzerland. By offering these services, Sygnum seeks to provide legally compliant solutions for managing and trading SUI assets, as well as using them as collateral for loans.

How Is Amina Bank Leading in SUI Services?

Amina Bank, another Swiss financial institution, has also stepped into the space by announcing its introduction of both trading and custody services for SUI. Amina Bank claims that it is trailblazing as the first regulated entity to provide such services for the SUI asset, paving the way for increased institutional engagement.

Following these announcements, SUI experienced a remarkable surge in trading volume, hitting 36.45 million units, which represents a doubling of its recent trading average.

Over the past 24 hours, SUI’s price saw a 4% rise to $3.82, signaling a growing interest from individual investors, potentially positioning SUI as a leading altcoin with substantial backing from financial institutions.

The introduction of these institutional services indicates a burgeoning interest among banks and asset managers in upcoming blockchain projects, alongside established cryptocurrencies. Experts assert that such movements can grant investors access to diverse offerings within a regulated infrastructure.

What Sets Sui Apart in the Blockchain Arena?

Developed by Mysten Labs, Sui is distinguished by its ‘object’ data structure, which enhances scalability through cost-effective and rapid transactions.

Increased access facilitated by banks could enhance Sui’s appeal to developers and bolster its real-world application. This regulated access may also drive adoption by corporate entities alongside individual investors.

Such initiatives could significantly strengthen the adoption of blockchain technologies within the financial sector. If the demand remains steady, Sui may extend its utility beyond speculative trading to widespread institutional use.

“We are leading the way in enabling SUI support both in trading and custody,” said a representative from Amina Bank.