The Sui Foundation, devoted to advancing the Sui ecosystem, has announced that it has partnered up with BitGo, the industry pioneer in custody and security solutions. Through this collaboration, SUI token owners will be able to store and stake their tokens using both custodial and non-custodial wallets on the BitGo platform.
Additionally, BitGo and the Sui Foundation revealed that the Sui Foundation will hold its Treasury with BitGo and stake a portion of this treasury using BitGo’s wallets, thus enhancing this unique collaboration.
Evan Cheng, co-founder and chief executive officer of Mysten Labs and a pioneer in the development of the Sui protocol, commented on the partnership and said that it shows their dedication to expanding the Sui ecosystem and building a diverse user base that includes both organizations and individuals. Together, he asserts, “we can make significant progress in increasing the number of users interacting with the Sui ecosystem and ultimately promote our aim of mass Web3 adoption”. According to Evan, “together, we can make meaningful inroads in broadening the number of people interacting with the Sui ecosystem and ultimately advance our goal of mass Web3 adoption”.
The Chief Executive Officer of BitGo, Mike Belshe, emphasized the company’s enthusiasm at becoming the first authorized custodian to offer custody and staking services to the whole Sui ecosystem, including SUI token owners looking for a safe place to store and stake their assets. Mike added that BitGo is thrilled to offer the community members safe and dependable custody and staking services for their SUI tokens because the Sui Foundation has established a wide network of developers and organizations that are dedicated to advancing Sui, the Open Web, and Web3 progress.
A partner at Warburg Serres Investments, also expressed how thrilled he was to see BitGo introduce custody, execution, and staking for SUI, giving institutional-caliber services to back what he called one of the most fascinating, high-growth Layer 1 protocols. The partner, Sal Ternullo, continued by expressing the desire of Warburg Serres’s investment to continue investing in the Sui ecosystem by utilizing BitGo’s services throughout this next phase of its growth and development.
This partnership will indeed bring a new dawn to the SUI ecosystem as users will not just hold their Sui tokens but also get the opportunity to stake them.
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