Grand Cayman, Cayman Islands, August 28th, 2024, Chainwire
Fordefi, the leading company in providing institutional-grade security, has partnered with Sui Network, the Layer 1 blockchain known for its exceptional performance and unlimited horizontal scaling. This collaboration introduces a secure institutional wallet platform powered by multiparty computation (MPC) technology, offering a comprehensive solution for builders, traders, and operators in the DeFi space.
With Fordefi's integration with Sui Network, institutional users can now self-custody their private keys securely and access thousands of decentralized applications (dApps) across multiple blockchains. This not only enhances control over digital assets but also streamlines asset management operations, improving efficiency and simplifying workflows.
“Sui’s scalable and secure platform is perfectly tailored for institutional users,” stated Gap Kim, Global Head of Marketing for Sui Foundation. “By combining secure custody solutions with seamless access to DeFi features, Fordefi empowers asset managers, trading firms, and exchanges to fully utilize Sui’s capabilities, driving further adoption and growth within the ecosystem.”
By becoming the first institutional-grade custody solution to offer easy access to DeFi functionalities on the Sui blockchain, Fordefi is revolutionizing the way asset managers, trading firms, and exchanges operate. This partnership ensures a reliable and secure wallet-as-a-service, setting a new standard in the industry.
“We are thrilled to extend our support to Sui Network,” expressed Josh Schwartz, CEO, and Co-Founder of Fordefi. “The integration of our MPC wallet on Sui Network allows institutional clients to benefit from secure self-custody, seamless dApp integration, and access to Sui DeFi. We are excited about the future of this collaboration and the opportunities it presents.”
For more information, please contact Sui Foundation at media@sui.io
Read the original article on Chainwire
Analysis:
This groundbreaking collaboration between Fordefi and Sui Network marks a significant milestone in the DeFi space. By offering institutional-grade security and a seamless user experience, this partnership opens up new possibilities for asset managers, trading firms, and exchanges. With the ability to self-custody private keys securely and access a wide range of dApps, users can now enhance their operational efficiency and streamline digital asset management. This innovation is set to drive further adoption of DeFi features on the Sui blockchain, benefiting both institutional entities and individual users alike.