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The cryptocurrency market continues to bring noteworthy developments to the forefront. Accordingly, the Greek exchange has announced its consideration to launch the electronic book building (EBB) application within the Sui blockchain ecosystem. Sui revealed in a blog post on March 6th that the EBB would be developed in collaboration between the Athens Stock Exchange Group (ATHEX) and Mysten Labs, the first contributor to the Sui ecosystem.
ATHEX and Sui Network Partnership
ATHEX’s EBB initiative will be future-oriented, allowing early-stage and large companies to list their transferable securities and create a new funding avenue. Sui will host ATHEX securities, which will be offered as digital certificates when they are introduced to the market. The public announcement stated the following:
“This application will be protected with a transparent supervision chain, strong security, and transferability.”
Although blockchain technology seems like a natural fit for exchange-related mechanisms, the distribution of EBB within the Sui ecosystem is highlighted as one of the first to utilize the technology in this manner. EBB will be deployed as a blockchain-based meta-layer over the existing order routing system at ATHEX.
According to the blog post, this tool will provide liquidity for business proposals to companies seeking to raise funds. The announcement mentioned that the project collaboration is still under evaluation and depends on performance and ATHEX’s choice to adopt blockchain technology to host its new tool.
Sui Network and Blockchain Initiatives
Sui Network, a Layer-1 blockchain ecosystem that launched its mainnet in May 2023 and focuses on crypto asset ownership, has been gaining attention. A few months after the mainnet launch, Sui took steps to simplify Web3 logins for users of Sui-supported applications by allowing logins using Google, Facebook, and Twitch credentials through a new zero-knowledge-focused feature, zkLogin.
Since its launch, Sui Network has gained popularity for managing high transaction volumes while maintaining low transaction fees. In February 2024, the Sui Foundation partnered with the American University of Sharjah in the United Arab Emirates to launch a Blockchain Academy aimed at increasing students’ awareness of blockchain technology and its applicability in creating applications and platforms.
In an interview, Sui Foundation General Manager Greg Siourounis stated that the purpose of this university initiative was to educate people about blockchain usage while providing the right tools.
