Mysten Labs launches onchain finance engine for Sui
The engine is built to support autonomous AI agent transactions and give institutions easier access to onchain finance, with Asia-Pacific expansion planned.
Mysten Labs has introduced an onchain financial engine for the Sui network, designed to improve institutional and application access to onchain finance and to enable autonomous transactions by AI agents, according to datanet.co.kr.
The engine is intended to simplify integration and reduce the operational burden for institutions that use onchain financial products. Mysten Labs says the design targets both institutional users and applications that connect to them.
The company plans to expand development and testing of next-generation onchain financial products built on Sui to financial institutions, fintech companies, developers and AI companies in Korea and the wider Asia-Pacific region.
Data Network also plans to migrate its network and flagship products to Sui and Walrus. Mysten Labs recently expanded its cooperation with Data Network through a strategic partnership. Data Network is a Silicon Valley-based AI training data protocol backed by Andreessen Horowitz (a16z), and it has accumulated more than 250 million verifiable receipts on Trace.
Other activity on Sui includes stablecoin transfers on the network surpassing 1 trillion dollars over the past year. DeepBook's cumulative trading volume has exceeded 20 billion dollars, with volume above 340 million dollars in the last 30 days, while Walrus recently added more than 1 million certified transaction records tied to over 7.7 billion dollars in real-world assets.
Quick answers
What is the Sui onchain financial engine for?
It is designed to improve institutional and application access to onchain finance and to enable autonomous AI agent transactions.
Who will be able to develop and test Sui-based onchain financial products?
Mysten Labs plans to expand development and testing to financial institutions, fintech companies, developers and AI companies in Korea and the broader Asia-Pacific region.
What is Data Network doing with Sui and Walrus?
Data Network plans to migrate its network and flagship products to Sui and Walrus.