Fordefi Joins Sui Network to Enhance Institutional-Grade Security

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

Sui, the Layer 1 blockchain known for its industry-leading performance and infinite horizontal scaling, has partnered with Fordefi. Fordefi utilizes multiparty computation (MPC) technology to create a secure institutional wallet platform for decentralized finance (DeFi).

Fordefi’s platform serves as a comprehensive Web3 gateway, offering enterprise-grade solutions that allow builders, traders, and operators to self-custody their private keys. Users can easily connect to thousands of decentralized applications (dApps) across various blockchains and manage digital asset operations with tailored policies and a unified interface.

The integration with Sui enables institutional users to securely self-manage their private keys while accessing numerous dApps, thus ensuring complete control over their digital assets. This enhancement significantly boosts operational efficiency and streamlines digital asset management with customizable policies to protect workflows.

“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 offering a secure, institutional-grade custody solution with seamless access to DeFi features, Fordefi empowers asset managers, trading firms, and exchanges to leverage Sui’s capabilities, bolstering the Sui ecosystem and promoting further adoption.”

With this collaboration, Fordefi becomes the first institutional-grade custody solution to provide easy access to DeFi on the Sui blockchain. This integration is advantageous for asset managers, trading firms, exchanges, and other institutional entities, as it delivers a secure and reliable wallet-as-a-service.

“We are excited to add support for Sui Network,” stated Josh Schwartz, CEO and Co-Founder of Fordefi. “Our MPC wallet on Sui Network ensures that institutional clients can enjoy secure self-custody and seamless dApp integration while accessing Sui DeFi. We look forward to developing this partnership.”

Contact: Sui Foundation
Email: media@sui.io

This article was originally published on Chainwire.