Sui and World Liberty Financial partner to explore the digital economy

Layer 1 blockchain Sui Sui has partnered with World Liberty Financial, a Trump-linked decentralized finance (DeFi) project. This partnership aims to foster the growth of open and transparent financial services grounded in the principles of decentralization.

Sui is a blockchain platform designed for high-speed transactions and scalability. Its technology provides a strong foundation for building decentralized applications (dApps), enabling users to trade, invest, and interact with digital assets efficiently. 

The World Liberty project is a global effort to promote freedom, fairness, and openness, especially in finance and technology. It focuses on using decentralized systems, like blockchain, to give people more control over their money and data without relying too much on big institutions. World Liberty launched in September last year.

This partnership comes at a time when the US President has thrown huge support for the industry. His January 23 executive order promotes U.S. leadership in digital assets, alongside his proposal for a Strategic Crypto Reserve featuring major cryptocurrencies. He also advocates for global stablecoin adoption and plans to host the first White House Crypto Summit to shape future policies.

Eric Trump, Web3 Ambassador for World Liberty Financial, is excited about collaborating with Sui, seeing it as a gateway to innovative opportunities. “We are very excited to work with Sui and explore the innovative opportunities this collaboration presents,” he said.  

His role as a Web3 Ambassador focuses on promoting blockchain-based financial solutions, and by working with Sui, he aims to harness its advanced technology to further WLFI’s mission.

Zak Folkman, the co-founder of WLFI, explains that they chose Sui because of its American-born innovation and impressive scale and adoption. By emphasizing that Sui is homegrown, WLFI demonstrates a commitment to U.S.-developed blockchain advancements and positions itself as a leader in bringing reliable, home-based financial technology to the American public. 

Sui has grown rapidly, earning trust among developers and users while proving capable of handling high transaction volumes. Folkman also mentions that Sui is a natural fit for WLFI’s mission of making decentralized finance accessible to more Americans. Since WLFI plans to support foundational DeFi assets in the coming months, partnering with Sui was an easy decision.

Evan Cheng, the co-founder and CEO of Mysten Labs, believes that combining Sui’s advanced technology with WLFI’s ambitions could transform how people store and use financial assets. 

He highlights a shared vision between the two organizations, one where people regain control over their finances, digital creations, and online presence. According to Cheng, this partnership will accelerate progress toward that vision, helping to redefine the financial landscape through decentralized solutions.

One of Sui’s most notable achievements is its ability to handle huge volumes of transactions. In one instance, the network processed 65.8 million transactions within a single day, setting a record for the highest number of transactions ever recorded on any blockchain in 24 hours. 

By September 2024, the network had over 18.19 million active accounts and had processed more than 4.58 billion transactions. It has surpassed $500 million in total value locked (TVL) across its decentralized finance (DeFi) protocols.

Sui also introduced innovative features like zkLogin, which allows users to log into Web3 applications using existing credentials from platforms like Google or Facebook. This feature bridges the gap between Web2 and Web3 by simplifying user onboarding and enhancing accessibility.