Switzerland-based bank AMINA has become the first crypto-focused bank to enable trading and custody service for SUI, the native currency of the Sui blockchain network. The announcement comes amid SUI making headlines with multiple spot ETF filings in the U.S.
AMINA supports a wide range of crypto assets for trading and custody, including Bitcoin (BTC), Ether (ETH), Solana (SOL), Avalanche (AVAX) and others. SUI is the latest addition to it. The bank has not put any volume caps or trading limits on SUI, hence investors can freely trade the token on its secure and complied trading platform.
In an official release, the Swiss Financial Market Supervisory Authority (FINMA)-regulated AMINA bank shared that it will allow its customers to buy, sell or hold SUI, while also planning to enable SUI staking in coming months.
“AMINA’s role extends beyond providing access. We identify and enable institutional participation in breakthrough technologies before they reach mainstream markets,” said Myles Harrison, Chief Product Officer of AMINA Bank. “What sets Sui apart is that it’s been built specifically to replace Web2 infrastructure in businesses, offering efficiencies that many other Layer-1s simply cannot match.”
Sui’s high speed and cost-efficient infrastructure has put it among leading blockchain networks within a few years of its launch. The price of SUI has also gained significantly this year, peaking at $5.2973, currently up 630% in the past year — as per CoinMarketCap data.
The AMINA bank also recently released a research report on Sui and praised the blockchain’s functionalities. “In a crowded L1 landscape, it [SUI] has managed to stand out and shine through. The network was built from the ground up using the Move programming language and offers a fresh take on blockchain infrastructure,” the bank noted.
“We’re already seeing traditional businesses building on Sui, and we’re proud to be the first bank globally to provide our clients with regulated access to what represents the next generation of Layer-1 technology,” Harrison added.
The mammoth gain in SUI price signals toward shifted market dynamics, which now leans towards altcoins (cryptocurrencies other than Bitcoin), with most of the assets gaining massive attention this year.
One of the leading and largest altcoin is Ethereum (ETH), which is making major headlines with its increasing strategic treasury adoption. Besides, Solana (SOL), BNB, Dogecoin (DOGE), and XRP are also leading this altcoin rally.
