The Greek stock exchange has announced plans to introduce a new tool called the electronic book building (EBB) on the Sui blockchain ecosystem. In a blog post on March 6, Sui disclosed that the Athens Exchange Group (ATHEX) and Mysten Labs, the original contributor to the Sui ecosystem, will collaborate on the development of the EBB.
The EBB by ATHEX will serve as a novel fundraising avenue, enabling both early-stage and mature companies to list transferable securities. These ATHEX securities will be hosted on Sui and will exist as digital certificates. The blog post emphasized that these digital certificates would be protected by robust security measures and would be transferable, with a transparent chain of custody. The post also highlighted that while blockchain technology appears to be a natural fit for stock market-related mechanisms, the deployment of EBB on Sui would be one of the pioneering use cases of this technology.
The EBB will be implemented as a blockchain-based “meta-layer” on top of the existing trading order routing system on ATHEX. According to the blog post, this tool will offer liquidity for business proposals from companies seeking to raise funds.
The announcement stated that the collaboration project is currently in the evaluation phase and its progress depends on the performance assessment and ATHEX’s decision to adopt blockchain technology for its new tool.
The Sui Network is a layer-1 blockchain ecosystem that launched its mainnet in May 2023, with a primary focus on digital asset ownership. A few months after the mainnet launch, Sui took steps to simplify Web3 logins for users on its Sui-powered apps by introducing a new feature called zkLogin (Zero Knowledge login), which allows users to log in using their Google, Facebook, and Twitch credentials.
Since its launch, Sui has gained a reputation for its ability to handle high transaction volumes while maintaining low fees. In February 2024, the Sui Foundation partnered with the American University of Sharjah, based in the United Arab Emirates, to launch a Blockchain Academy. The aim of this initiative is to increase student awareness of blockchain technology and its potential for creating applications and platforms. Greg Siourounis, the managing director of the Sui Foundation, stated in an interview with Cointelegraph that the goal of the university initiative is to educate people on the usability of blockchain and provide them with the necessary tools.
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