Investment firm VanEck launches product representing SUI token on Layer 1 blockchain

From Investing.com

November 13, 2024 09:30 AM:

VanEck, an investment firm with a 70-year legacy, now offers a product representing SUI, a token associated with the Layer 1 blockchain known for its performance and scalability. This new financial instrument allows millions of investors to access SUI without needing to hold it in a crypto wallet, providing exposure to the growing SUI ecosystem.

The launch of VanEck’s SUI-backed product demonstrates institutional confidence in Sui, with recent on-chain developments including partnerships with Zero Hash and Fordefi, as well as integration of stablecoins like USDC and USDY. Sui has experienced significant growth, with total value locked increasing by 430% and DeFi volume surging by 692%.

Menno Martens, Crypto Specialist at VanEck, expressed excitement about the new SUI-based product, highlighting Sui’s reputation as an industry leader with innovative technological advancements. Gap Kim, Head of Marketing for the Sui Foundation, emphasized the significance of VanEck’s decision to offer SUI as part of their product suite, indicating growing institutional interest in Sui’s technology and vision.

Sui is a Layer 1 blockchain platform designed for fast, private, and secure digital asset ownership. With parallel execution, sub-second finality, and horizontally scalable processing, Sui supports a wide range of applications with unrivaled speed and low cost. VanEck, known for identifying impactful investment opportunities, offers active and passive strategies with compelling exposures for investors.

VanEck’s history of looking beyond financial markets to identify trends has led to the firm offering access to international markets, gold investing, emerging markets, and Exchange Traded Funds. With a focus on putting clients’ interests first, VanEck’s mission since its founding in 1955 has been to provide investment opportunities that shape the industry and enhance portfolio diversification.

Read more at Investing.com: Investment Giant VanEck Launches SUI-based Financial Product By Chainwire