21Shares Partners with Sui to Bring the Blockchain Network's Native Token to More Users

21Shares, a leading cryptocurrency exchange-traded product provider, is partnering with Sui to bring the blockchain network's native token to more users.

21Shares, a leading cryptocurrency exchange-traded product provider, is partnering with Sui to bring the blockchain network’s native token to more users.

Announced at the annual Sui Basecamp conference on Wednesday, May 14, the partnership will see the exchange-traded funds issuer help expand the adoption of SUI token.

The collaboration comes as the ETP provider, which has a major digital assets presence in Europe, moves to enter the U.S. market. Switzerland-based 21Shares is leveraging Sui for its foray into the American market, according to a statement by the Sui team.

As such, the partnership could see increased institutional adoption of Sui amid fresh traction for decentralized finance and real-world assets fuel further growth for SUI token.

“Partnering with Sui speaks to where we see the future of blockchain infrastructure heading,” said Federico Brokate, head of U.S. business at 21Shares.

“We believe Sui has the technical underpinnings, DeFi and developer ecosystems, and institutional alignment to play a central role in crypto for a long time. We’re excited to be a part of that journey.”

The partnership comes as 21Shares makes a dash into the U.S. market that has become a little more attractive amid the pro-crypto stance of Donald Trump’s administration.

Speaking at the conference, 21Shares president Duncan Moir added: “Since our earliest research into Sui, we believed it could become one of the most exciting blockchains in the industry, and we’re seeing that thesis play out.

“We operate based on conviction but also investor demand, and our planned roadmap with Sui is a reflection of both.”

Layer-1 blockchain Sui offers transaction execution at sub-second finality and gets notable traction as developers tap into its network speed and scalability.

According to DeFiLlama, Sui’s total value locked in protocols is currently around $2.06 billion, making it the eighth-largest chain by TVL. The L1 blockchain’s TVL has also increased by nearly 70% over the past month.