dWallet Network and Mysten Labs Forge Strategic Partnership to Advance Multi-Chain DeFi Innovations on Sui
dWallet Network, a pioneer in decentralized, proprietary multi-chain technology, and Mysten Labs, a Web3 infrastructure company and an initial participant of Sui, have announced their strategic partnership, focusing on the implementation of multi-chain compatibility within the DeFi ecosystem on Sui, a revolutionary tier-1 platform and smart contract environment. Thanks to the integration of the dWallet primitive, applications built on Sui will be able to sign transactions on Bitcoin and Ethereum, opening up new possibilities for cross-chain interactions within Sui.
Omer Sadik, co-founder of dWallet Network, expressed his excitement about the partnership, stating: “We are thrilled to collaborate with Mysten Labs and to implement our decentralized, non-collusive building block, dWallet, into the Sui ecosystem. This partnership not only broadens the horizons of DeFi and gaming on Sui but also represents a significant step towards realizing our vision of a seamless multi-chain future.”
The inflow of funds into Hong Kong’s spot cryptocurrency ETFs may be limited to $500 million, according to Eric Balchunas, an ETF market analyst at Bloomberg. He suggests that significant capital inflows similar to those seen with U.S. funds should not be expected. He describes the Hong Kong market as “tiny” and illiquid and notes that investors from mainland China will not have access to these ETFs (at least officially).
“It would be good if the funds attract at least $500 million,” writes Balchunas on X. He calls the $25 billion capital inflow estimate reported by the media and citing analysts from 10x Research “crazy.”
According to his assessment, the three issuing companies that have received regulatory approval manage too little capital compared to the heavyweights in the U.S., and the fees for their ETFs will be noticeably higher than those in American spot Bitcoin funds.
