Sui, a leading Layer 1 blockchain, has partnered with Copper, a pioneer in digital asset custody, as announced on June 26 by their communities. This move aims to enhance custody infrastructure across the L1 blockchain.
This partnership is particularly beneficial for stablecoin and Real-World Asset (RWA) issuers on the Sui network, including Ondo (USDY). It marks the introduction of Sui’s first institutional custodian, offering off-chain settlement services, staking, and a DeFi stack.
Greg Siourounis of the Sui Foundation emphasized the partnership’s potential to diversify new projects and assets. Copper CEO Dmitry Tokarev noted that staking and DeFi features are in development.
Despite this progress, SUI, the native token, saw a 2.82% dip, trading at $0.856. This partnership, however, represents a strategic move to boost the network’s appeal and infrastructure for institutional users.
