The Greek stock exchange is exploring the integration of a pioneering tool, the electronic book building (EBB), into the Sui blockchain ecosystem.
This announcement was made public through a blog post by Sui on March 6, revealing a collaborative effort between the Athens Exchange Group (ATHEX) and Mysten Labs, the creators behind Sui.
The proposed EBB by ATHEX represents a significant advancement in fundraising methods, facilitating the listing of transferable securities for both emerging and established companies.
These securities would be hosted on Sui, transformed into digital certificates, thus ensuring robust security, transferability, and a clear custody chain.
The initiative is hailed as a breakthrough, marrying blockchain technology with stock market operations, a union that is deemed a “natural fit” by the developers.
According to the blog, the EBB system will act as a blockchain-based enhancement layer atop ATHEX’s existing trading order routing framework.
This integration aims to inject liquidity into company fundraising efforts by leveraging blockchain’s capabilities.
However, the project’s progression is contingent on successful evaluations and ATHEX’s final decision to adopt blockchain for its new tool.
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The Sui Network, a layer-1 blockchain platform, launched its mainnet in May 2023, focusing on digital asset ownership.
Since its inception, Sui has established itself as a robust ecosystem capable of managing high-volume transactions with minimal fees, evident from the adoption of a novel zkLogin feature.
This innovation simplifies Web3 logins across Sui applications, supporting Google, Facebook, and Twitch credentials for user access.
In a move to bolster blockchain education, the Sui Foundation partnered with the American University of Sharjah in the United Arab Emirates to establish a Blockchain Academy in February 2024.
This initiative aims to heighten student engagement with blockchain technology, enhancing their ability to develop relevant applications and platforms.
Greg Siourounis, the managing director of the Sui Foundation, emphasized the importance of educating the masses on blockchain’s potential and equipping them with necessary tools in an interview with Cointelegraph.
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