Key Highlights:
- ATHEX considers integrating its fundraising mechanism onto Sui blockchain, aiming for heightened security and transparency in fundraising processes.
- ATHEX plans to introduce its EBB tool on Sui, revolutionizing stock market operations by minting securities as digital certificates for transparent custody tracking.
Yello Paradisers! The Greek stock exchange, ATHEX, is exploring the integration of its new fundraising mechanism onto the Sui blockchain ecosystem, aiming to leverage blockchain technology for enhanced security and transparency.
Introducing Electronic Book Building (EBB) on Sui
ATHEX plans to introduce its electronic book building (EBB) tool on the Sui blockchain, facilitating the listing of transferable securities for both early-stage and mature companies. Developed in collaboration with Mysten Labs, a key contributor to the Sui ecosystem, the EBB on Sui would mint ATHEX securities as digital certificates, ensuring robust security and transparent custody tracking.
Pioneering Blockchain Adoption in Stock Market Operations:
While blockchain’s compatibility with stock market operations is evident, the deployment of EBB on Sui represents one of the pioneering initiatives to utilize blockchain technology in this domain. Acting as a blockchain-based meta-layer over ATHEX’s existing trading order routing system, EBB aims to provide liquidity for businesses seeking fundraising opportunities.
Evaluation Phase and Contingent Deployment
However, the project is still in the evaluation phase, contingent upon performance assessments and ATHEX’s decision to adopt blockchain technology for its fundraising tool.
Sui Network: Revolutionizing Digital Asset Ownership
Sui Network, a layer-1 blockchain ecosystem launched its mainnet in May 2023, specializing in digital asset ownership. Notably, it introduced a zkLogin feature to simplify Web3 logins for users, allowing authentication via Google, Facebook, and Twitch credentials.
Partnership with American University of Sharjah
Recognized for its capacity to handle high transaction volumes while maintaining low fees, Sui Network continues to expand its ecosystem. In February 2024, the Sui Foundation partnered with the American University of Sharjah to establish a Blockchain Academy, aimed at educating students about blockchain technology and its practical applications.
Potential Implications
As the collaboration progresses, the integration of ATHEX’s EBB onto the Sui blockchain ecosystem holds the potential to revolutionize fundraising mechanisms in the stock market domain, ushering in an era of enhanced security, transparency, and efficiency.
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