SUI Group, a Nasdaq-listed digital asset treasury company, has announced a key partnership with the decentralized exchange Bluefin to drive institutional adoption of crypto products on the Sui blockchain.
Summary
- SUI Group announced its partnership with Sui-based perps platform Bluefin.
- The platforms aim to bring Wall Street to Sui.
- SUIG will lend 2 million SUI tokens to Bluefin and receive 5% in return.
SUI Group is a publicly traded company that boasts an official crypto agreement to support Sui with Sui Foundation.
The company, which seeks to offer institutional-grade exposure to the Sui (SUI) blockchain, also launched the first SUI treasury strategy. Its collaboration with Bluefin seeks to expand on these initiatives.
Bridging Wall Street to Sui
According to an announcement, SUI Group and Bluefin have a partnership and lending agreement in place.
Joining forces will enable SUI Group to tap into its deep traction to drive further adoption of Bluefin’s trading and lending products. The target is bringing traditional finance players, including hedge funds, asset managers, and market makers to Sui’s on-chain markets ecosystem.
To bolster efforts, SUIG has agreed to lend 2 million SUI tokens, currently valued at over $4.32 million, to Bluefin. In return, the company will receive a 5% revenue share, also paid in SUI.
Expanding perpetual futures on Sui
Bluefin is a perpetual futures exchange platform on Sui, backed by leading investors in the crypto space. These include Polychain, Brevan Howard Digital, Susquehanna, and Tower Research. It targets institutional investors with not just perpetual futures, but also spot trading, lending, and vault-based yield strategies.
Growth for the protocol includes a milestone that has seen the platform’s cumulative trading volumes explode to over $82 billion. The platform has seen more than $34 million in fees and over $90 million in vaults deposits.
Source: https://crypto.news/sui-group-partners-with-bluefin-bring-wall-street-sui/
