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VanEck, a prominent global asset management firm, has introduced its latest crypto-focused investment product, the VanEck SUI ETN, now available on Euronext Amsterdam and Paris.
This exchange-traded note (ETN) offers investors a way to gain exposure to the SUI blockchain’s growth without needing to hold SUI tokens directly. It aims to provide a gateway for broader participation in decentralized finance (DeFi) and fast blockchain applications.
The SUI blockchain, developed by Mysten Labs, is designed to handle decentralized smart contracts with remarkable speed. Unlike traditional blockchains like Bitcoin and Ethereum, which process transactions in a sequential manner, SUI processes them in parallel.
This enables much faster transaction times and lower costs, making it particularly well-suited for applications requiring real-time interactions, such as financial services and gaming.
Martijn Rozemuller, CEO of VanEck Europe, emphasized the importance of quick transaction finality in the DeFi space, noting that SUI’s architecture bridges the gap between Web2 and Web3 in a user-friendly way.
Mysten Labs, the team behind SUI, brings deep experience from leading tech companies like Microsoft, Apple, and Meta. Notably, SUI utilizes a modified version of the Move programming language, initially developed for Meta’s Diem cryptocurrency project, to enhance scalability and user experience.