Swiss crypto asset bank Sygnum has introduced a suite of services for institutional clients based on the Sui (SUI) network, including custody, trading, and credit products. According to Sygnum, this initiative aims to widen access for regulated investors in Switzerland to the SUI asset, providing legally compliant options for safe custody, trading, and using the asset as collateral for borrowing.
SUI Coin Support
Within the same week, another Swiss financial institution, Amina Bank, announced it would offer both trading and custody services for SUI. A representative from Amina Bank emphasized their pioneering status, claiming they are the first regulated bank to support the SUI asset in both trading and custody capacities.
Both banks’ announcements were followed by a significant surge in trading volume of the SUI asset. The volume reached 36.45 million units, doubling the recent average.
The price of SUI increased by 4% in the last 24 hours, reaching $3.82. This uptick reflects the growing interest from individual investors, which amplifies the impact of these developments. In a competitive market, SUI could become one of the standout altcoins with strong backing from such banks.
The provision of these services for institutional clients suggests that banks and asset managers are increasingly interested not only in major crypto assets but also in emerging blockchain projects. Experts believe developments like these have the potential to offer investors access to a variety of products within a regulated framework.
Sui Coin
Sui, developed by Mysten Labs, stands out as a blockchain leveraging an innovative “object” data structure. This platform aims to enhance scalability through its low-cost and rapid transaction capabilities.
The increase in bank-facilitated access is expected to render Sui a more appealing platform for developers and real-world applications. Moreover, the regulated access provided by banks could accelerate adoption not only by individuals but also by corporate and non-corporate investors.
Experts suggest that such initiatives could bolster the regulated spread of blockchain technologies within the financial sector. If demand persists, Sui is likely to find broader areas of institutional application beyond speculative trading.
