{"id":331688,"date":"2024-06-26T20:04:47","date_gmt":"2024-06-26T14:34:47","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=331688"},"modified":"2024-06-26T20:04:47","modified_gmt":"2024-06-26T14:34:47","slug":"sui-partners-copper-eyeing-custody-support-for-stablecoin-rwa-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/sui-partners-copper-eyeing-custody-support-for-stablecoin-rwa-crypto-news\/","title":{"rendered":"Sui Partners Copper Eyeing Custody Support For Stablecoin & RWA – Crypto News"},"content":{"rendered":"

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Sui, one of the most renowned Layer 1 blockchains<\/a>, has recently announced its partnership with Copper, a pioneer in the digital asset custody industry. According to a post revealed by their communities on X, dated June 26, it was pointed out that the strategic mover was aimed at streamlining custody infrastructure across the L1 blockchain.<\/p>\n

This announcement soon gained significant traction across the broader industry, glimmering hope for stablecoin and RWA issuers across the L1 network. Let\u2019s delve deeper into why.<\/p>\n

<\/p>\n

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

As mentioned above, fostering a revolutionalized custody infrastructure will primarily aid stablecoin and Real-World Asset (RWA) issuers on the Sui network<\/a>, such as Ondo (USDY). Moreover, this support will be available for both L1 and L2, per the community\u2019s announcement.<\/p>\n

The partnership further brings additional foundational infrastructure to the Sui network, catering to the needs of financial institutions eyeing efficient treasury services for their tokens. This \u201cintroduces Sui\u2019s first institutional custodian,\u201d the community added on X.<\/p>\n

Other services offered by Copper included off-chain settlement services for cryptos, staking, and a DeFi<\/a> stack, among many others.<\/p>\n

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<\/p>\n

Managing Director of the Sui Foundation, 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 Also, Greg spotlighted Copper\u2019s \u201centerprise-grade custody tooling,\u201d hinting it to be a game changer for the ecosystem\u2019s potential to jack up the infrastructural needs of institutional builders and users.<\/p>\n

Meanwhile, Copper CEO Dmitry Tokarev stated, \u201cWe\u2019re excited to be a part of the SUI ecosystem with Copper as custodian.\u201d He further added that the staking and DeFi features are currently in developmental phases.<\/p>\n

Also Read: Custodia Bank CEO Predicts \u201cRip Roaring\u201d Bitcoin Bull Market, Slams Warren Wing<\/a><\/strong><\/p>\n

Sui Price Plunges<\/h2>\n

<\/p>\n

However, contrary to the abovementioned advancement, SUI<\/a>, the native token of the L1 network, fell considerably. Its price chart showed a 2.82% dip today and is currently trading at $0.856.<\/p>\n

The token\u2019s 24-hour lows and peaks are $0.8434 and $0.9005, aligning with today\u2019s broader market volatility. Nonetheless, the partnership glimmers hope for the blockchain\u2019s future endeavors as it readies to enhance user appeal.<\/p>\n

Also Read: Binance Announces Major User Accounts Transition By Year End<\/a><\/strong><\/p>\n

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CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article. <\/p>\n<\/p><\/div>\n

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n

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Sui, one of the most renowned Layer 1 blockchains, has recently announced its partnership with Copper, a pioneer in the digital asset custody industry. According to a post revealed by their communities on X, dated June 26, it was pointed out that the strategic mover was aimed at streamlining custody infrastructure across the L1 blockchain. […]<\/p>\n","protected":false},"author":2,"featured_media":305870,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-331688","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/331688","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=331688"}],"version-history":[{"count":3,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/331688\/revisions"}],"predecessor-version":[{"id":331700,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/331688\/revisions\/331700"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/305870"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=331688"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=331688"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=331688"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}