VanEck lists SUI-based product on Euronext

VanEck has just launched a SUI ETN on European exchanges, offering access to a high-speed blockchain suitable for decentralized finance.

Asset management firm VanEck has announced the listing of its SUI (SUI) exchange-traded bond on Euronext Amsterdam and Paris, according to a press release seen by crypto.news.

This ETN allows European investors to gain access to the SUI blockchain without directly purchasing or holding any SUI tokens. It will be available in several countries, including Germany, France and Sweden.

SUI is growing in popularity

The SUI blockchain is designed to process transactions quickly, addressing a key challenge faced by earlier blockchains like Bitcoin (BTC) and Ethereum (ETH), where transactions occur sequentially, often leading to delays and higher costs.

The structure of SUI allows simultaneous processing, making it ideal for applications that require fast, real-time interaction, such as decentralized finance platforms and gaming applications.

🚨BREAKING NEWS 🚨: Investment firm @Vaneck_eu Launched a new product representing SUI!
Leveraging Sui’s trusted and tested infrastructure, VanEck bridges the gap between blockchain and traditional finance and offers millions of investors secure access to SUI. pic.twitter.com/WWjMBT8dcs

— Sui (@SuiNetwork) November 13, 2024

Martijn Rozemuller, CEO of VanEck Europe, highlighted SUI’s potential impact on decentralized finance, where fast transaction times are vital. He described SUI as a “bridge” between traditional online systems and the emerging world of decentralized Web3, and emphasized its user-friendly design.

SUI was developed by Mysten Labs, a company founded by developers with backgrounds in Microsoft, Apple, and Meta. The team behind SUI uses a version of the Move programming language originally created for Meta’s Diem project. This language enhances the capabilities of SUI, supporting its scalability and ease of use for both developers and end users.

The price of SUI has increased by over 40% in the last seven days.