Sui Blockchain: Greek Stock Exchange’s On-Chain Fundraising Tool

The Greek stock exchange, known as the Athens Exchange Group (ATHEX), is considering launching a new tool called the electronic book building (EBB) on the Sui blockchain ecosystem. This collaboration between ATHEX and Mysten Labs, the original contributor to the Sui ecosystem, aims to create a new fundraising future for early-stage and mature companies to list transferable securities. If implemented, ATHEX securities would be minted as digital certificates on the Sui blockchain, offering strong security and transparency.

While blockchain technology is seen as a natural fit for stock market-related mechanisms, the EBB deployment on Sui would be one of the first to use the technology in this way. The EBB would be a blockchain-based “meta-layer” added to ATHEX’s current trading order routing system. The tool would provide liquidity for companies looking to raise funds through business proposals.

The collaboration is still in the evaluation phase and depends on ATHEX’s decision to choose blockchain technology for its new tool. The Sui Network, a layer-1 blockchain ecosystem, already launched its mainnet in May 2023. It focuses on digital asset ownership and has gained a reputation for its ability to handle high transaction volumes with low fees.

In order to simplify Web3 logins for users on Sui-powered apps, the network introduced zkLogin, a feature that allows login using Google, Facebook, and Twitch login details. This initiative aims to increase accessibility and ease of use for users.

The Sui Foundation launched a Blockchain Academy in partnership with the American University of Sharjah in the United Arab Emirates. The goal of this initiative is to educate students about blockchain technology and its potential applications and platforms. The managing director of the Sui Foundation, Greg Siourounis, believes that increasing awareness and providing the right tools is crucial in promoting blockchain usability.

The Greek stock exchange is considering utilizing the Sui blockchain ecosystem for its new tool, the electronic book building (EBB). This collaboration aims to provide a secure and transparent platform for companies to list transferable securities and raise funds. The Sui Network, known for its ability to handle high transaction volumes with low fees, has already launched its mainnet and introduced features like zkLogin to enhance user experience. The Sui Foundation’s Blockchain Academy initiative strives to educate students about blockchain technology and its potential applications.