Sui, a prominent Layer 1 blockchain, has announced a strategic partnership with Copper, a leading digital asset custody service provider. This collaboration aims to streamline the custody infrastructure for stablecoin and real-world asset (RWA) issuers on the Sui network, catering to the needs of financial institutions and institutional builders.

The partnership will introduce Sui's first institutional custodian, providing enterprise-grade custody tooling to the ecosystem. This move is expected to bolster the network's appeal and support the growing demand for efficient treasury services for various tokens. Copper's services, including off-chain settlement, staking, and DeFi stack, will be made available to the Sui community.

Greg Siourounis, the Managing Director of the Sui Foundation, expressed excitement about the partnership, highlighting the potential for new projects and assets to be enabled within the Sui and Copper ecosystems. Dmitry Tokarev, the CEO of Copper, also shared his enthusiasm, stating that the company is excited to be a part of the Sui ecosystem as a custodian.

Despite the positive news, the Sui token (SUI) experienced a price decline of 2.82% on the day of the announcement, trading at $0.856. This contrasts with the overall optimism surrounding the partnership, which is expected to enhance the infrastructure and user appeal of the Sui blockchain.

The collaboration between Sui and Copper represents a significant step forward in the blockchain's efforts to provide robust custody solutions and attract institutional participation. As the partnership progresses, it will be interesting to see how it impacts the Sui ecosystem and the broader crypto landscape.