Fordefi Unveils First Institutional Grade MPC Wallet for DeFi on Sui

adminAugust 29, 2024

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

Fordefi provides institutional-grade security to Sui Network.

Sui, a Layer 1 blockchain that delivers industry-leading performance and infinite horizontal scalability, announced that it has partnered with Fordefi, a company that uses multi-party computation (MPC) technology to provide a secure institutional wallet platform for DeFi. Fordefi’s comprehensive platform and Web3 gateway provide an enterprise-grade solution that allows builders, traders, and operators to self-custody their private keys, seamlessly connect to thousands of decentralized applications (dApps) across all blockchains, and manage digital asset operations with granular policies and a unified interface.

The integration of Fordefi and Sui allows institutional users to safely store their private keys and connect to thousands of dApps across multiple blockchains, ensuring full control over their digital assets, improving operational efficiency, and dramatically simplifying digital asset management. The platform also provides custom policies to secure workflows and integrates all digital asset operations into a unified interface, providing a comprehensive and user-friendly asset management solution.

“Sui’s scalable and secure platform is uniquely suited to meet the needs of institutional users,” said Gap Kim, Global Head of Marketing at Sui Foundation. “By providing a secure institutional-grade custody solution and seamless access to DeFi capabilities, Fordefi will enable asset managers, trading firms, and exchanges to fully leverage Sui’s capabilities, strengthening the Sui ecosystem and driving further adoption.”

This collaboration makes Fordefi the first institutional-grade custody solution to provide convenient access to DeFi functionality on the Sui blockchain. This integration benefits asset managers, trading firms, exchanges, and other institutional entities by providing a stable and secure wallet service.

“We are excited to add support for Sui Network,” said Josh Schwartz, CEO and Co-Founder of Fordefi. “By enabling the MPC wallet on Sui Network, institutional clients can now enjoy the benefits of secure self-custody and seamless dApp integration while accessing Sui DeFi. We look forward to seeing this partnership evolve.”