According to Cointelegraph: The Athens Stock Exchange (ATHEX) is considering deploying its new fundraising mechanism, known as the Electronic Book Building (EBB), on the Sui blockchain ecosystem. This venture is being developed in conjunction with Mysten Labs, a leading contributor to the Sui ecosystem.
The EBB would provide a novel fundraising feature that permits both early-stage and mature companies to list transferable securities. If implemented, these securities would be hosted on Sui, minted as digital certificates which are highly secure, transferable and offer a transparent chain of custody.
It is noted in a Blog post from Sui on March 6 that blockchain technology is indeed a natural fit for functions related to the stock market. However, the implementation of EBB on the Sui would be one of the initial real-world applications of such technology.
The EBB would function as a blockchain-powered meta-layer over the current ordering system on ATHEX. This new tool would provide liquidity for business proposals from companies seeking to fundraise.
Although the collaboration remains in the evaluation phase, the final decision revolves around the performance of the tool, backed by ATHEX's resolution to utilize blockchain technology for its new mechanism.
Sui Network, known for its digital asset focus, launched its mainnet in May 2023. It made strides by facilitating Web3 logins for users through platforms such as Google, Facebook, and Twitch, thanks to its new zkLogin (Zero Knowledge login) feature.
Sui Network has earned a reputation for managing high transaction volumes while keeping fees minimal. The Sui Foundation, in February 2024, inaugurated a Blockchain Academy in collaboration with the American University of Sharjah, UAE, to augment student understanding of blockchain technology and its application potential. Greg Siourounis, the Sui Foundation's managing director, expressed that the university initiative intended to teach people about the usability of blockchain and provide the necessary tools.
