Fordefi Brings Institutional-Grade Security to the Sui Network

Sui, the Layer 1 blockchain offering industry-leading performance and infinite horizontal scaling, announced that it has joined forces with Fordefi, a company that employs multiparty computation (MPC) technology to deliver a secure institutional wallet platform for DeFi.

Grand Cayman, Cayman Islands, August 28th, 2024, Chainwire

Sui, the Layer 1 blockchain boasting industry-leading performance and infinite horizontal scaling, has announced a partnership with Fordefi, a provider of multiparty computation (MPC) technology for institutional-grade Web3 custody solutions. Together, they will integrate Fordefi’s secure institutional wallet platform with the Sui Network to empower asset managers, trading firms, exchanges, and other institutional entities with seamless access to DeFi functionalities.

Fordefi’s comprehensive platform serves as a Web3 gateway, offering an enterprise-grade solution for builders, traders, and operators to self-custody their private keys, seamlessly connect to thousands of decentralized applications (dApps) across any blockchain, and manage digital asset operations with granular policies and a unified interface.

Fordefi’s integration with Sui will enable institutional users to securely self-custody their private keys and connect to thousands of dApps across various blockchains, ensuring complete control over their digital assets, enhancing operational efficiency, and dramatically simplifying digital asset management. The platform also offers customizable policies to protect workflows and consolidates all digital asset operations into a unified interface, providing a comprehensive and user-friendly asset management solution.

“Sui’s scalable, secure platform is uniquely suited to meet the demands of institutional users,” said Gap Kim, Global Head of Marketing for Sui Foundation. “By providing a secure, institutional-grade custody solution and seamless access to DeFi features, Fordefi empowers asset managers, trading firms, and exchanges to fully leverage Sui’s capabilities, enhancing the Sui ecosystem and driving further adoption.”

With this collaboration, Fordefi becomes the first institutional-grade custody solution to offer convenient access to DeFi functionalities on the Sui blockchain. This integration will benefit asset managers, trading firms, exchanges, and other institutional entities by providing a reliable and secure wallet-as-a-service.

“We are excited to add support for Sui Network,” said Josh Schwartz, CEO and Co-Founder of Fordefi. “Enabling our MPC wallet on Sui Network ensures that institutional clients can now benefit from secure self-custody and seamless dApp integration, while accessing Sui DeFi. We look forward to the evolution of this partnership.”

About Sui Foundation

Sui is a Layer 1 blockchain that combines unparalleled performance, infinite horizontal scaling, and a secure Move-based smart contract platform to empower Web3 builders, asset managers, and users with a seamless, congestion-free experience. Backed by a vibrant community and a $300 million Series B round led by FTX Ventures, Sui is set to revolutionize blockchain technology and usher in a new era of Web3 applications. To learn more, visit Sui Foundation’s website, follow them on Twitter, and join their Discord community.

About Fordefi

Fordefi is a Web3 MPC wallet company that provides multi-signature, multi-cloud, and multi-user capabilities, enabling institutions to self-custody their private keys and access DeFi features. Their platform integrates with any blockchain or dApp, offering a wallet-as-a-service with advanced features such as granular policies, workflow protection, and a user-friendly, single-pane-of-glass interface for all digital asset operations. Fordefi’s institutional clients include asset managers, trading firms, exchanges, and more. To learn more, visit Fordefi’s website, follow them on Twitter or LinkedIn, and try their product on Testnet.

Contact

Sui Foundation

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