{"id":82676,"date":"2024-06-26T11:10:06","date_gmt":"2024-06-26T15:10:06","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=82676"},"modified":"2024-06-26T11:15:41","modified_gmt":"2024-06-26T15:15:41","slug":"sui-partners-copper-to-support-stablecoin-rwa-custody","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/sui-partners-copper-to-support-stablecoin-rwa-custody\/","title":{"rendered":"Sui Partners Copper To Support Stablecoin & RWA Custody"},"content":{"rendered":"\n

The Layer 1 blockchain Sui has teamed with Copper, a renowned crypto custody provider, to simplify stablecoin<\/a> and RWA issuer operations.<\/p>\n\n\n\n

\"Sui<\/figure>\n\n\n\n

Copper, a pioneer in the digital asset custody industry, has recently declared its partnership with Sui, one of the most renowned Layer 1 blockchains.<\/p>\n\n\n\n

The strategic mover was intended to simplify custody infrastructure throughout the L1 blockchain<\/a>, as indicated by a post on X from their respective communities on June 26.<\/p>\n\n\n\n

This announcement quickly garnered significant traction in the broader industry, creating a glimmer of hope for stablecoin and RWA issuers along the L1 network.<\/p>\n\n\n\n

Sui & Copper Amalgamation To Jack Up L1 & L2<\/h2>\n\n\n\n

As mentioned above, fostering a revolutionalized custody infrastructure will primarily aid stablecoin and Real-World Asset (RWA) issuers on the Sui network, such as Ondo (USDY).<\/p>\n\n\n\n

Moreover, the community has announced that this support will be accessible for both L1 and L2.<\/p>\n\n\n\n

In addition, the partnership expands the Sui network's foundational infrastructure to meet the requirements of financial institutions seeking efficient treasury services for their tokens.<\/p>\n\n\n\n

The community added on X that this “introduces Sui's first institutional custodian.”<\/p>\n\n\n\n

Copper provided various services, including off-chain settlement services for cryptos, staking, and a DeFi stack, among others.<\/p>\n\n\n\n

Managing Director of the Sui Foundation<\/a>, Greg Siourounis, proclaimed, \u201cWe are truly excited about the number and diversity of new projects and assets this partnership will enable for both the Copper and Sui ecosystems.\u201d<\/p>\n\n\n\n

Additionally, Greg emphasized Copper's “enterprise-grade custody tooling,” suggesting that it has the potential to revolutionize the ecosystem by enhancing the infrastructural requirements of institutional builders and users.<\/p>\n\n\n\n

Meanwhile, Copper CEO Dmitry Tokarev stated, “We\u2019re excited to be a part of the SUI ecosystem with Copper as custodian.”<\/p>\n\n\n\n

In addition, he stated that the staking and DeFi features are presently in the developmental stages.<\/p>\n\n\n\n

Sui Price Plunges<\/h2>\n\n\n\n

However, in contrast to the abovementioned development, SUI\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, the L1 network's native token, dipped significantly.<\/p>\n\n\n\n

Today, its price trajectory indicated a 2.82% decline, and it is currently trading at $0.856.<\/p>\n\n\n\n

The token's 24-hour lows and peaks are $0.8434 and $0.9005, respectively, which are consistent with the current broader market volatility.<\/p>\n\n\n\n

However, the partnership offers a glimmer of hope for the blockchain's future endeavors as it prepares to improve its user appeal.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Layer 1 blockchain Sui has teamed with Copper, a renowned crypto custody provider, to simplify stablecoin and RWA issuer operations. Copper, a pioneer in the digital asset custody industry, has recently declared its partnership with Sui, one of the most renowned Layer 1 blockchains. The strategic mover was intended to simplify custody infrastructure throughout […]<\/p>\n","protected":false},"author":56,"featured_media":82678,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[130,21],"tags":[15200,1531,20234,14376,16421],"class_list":["post-82676","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-news","tag-crypto-custody-2","tag-stablecoin","tag-sui-sui","tag-sui-blockchain","tag-sui-network"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/06\/Sui-Partners-Copper-To-Support-Stablecoin-RWA-Custody.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/82676","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/56"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=82676"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/82676\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/82678"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=82676"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=82676"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=82676"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}