The SUI token will soon be available on Banxa’s platform, the market leader in crypto-compatible payment infrastructure. With the integration, more users from all over the world will be able to access the Sui blockchain. This is made possible by Banxa’s suite of global and local payment mechanisms, which was launched in 2014 and has processed over $3 billion in transactions. On top of that, when completely integrated, Mysten Labs’ Sui Wallet will allow users to buy SUI tokens through Banxa’s on-ramp and use its off-ramp solution.
There will be no transaction fees when buying SUI on Banxa for a limited period. Users of well-known Web3 platforms, like OKX, MetaMask, and Ledger, will now have easy and free access to Sui as a result of this connection.
“For a long time, fiat on and off ramps have been a source of friction for the crypto industry. That’s why Banxa, a platform that removes that friction, joining the Sui ecosystem is so important,” said Greg Siourounis, Managing Director of the Sui Foundation. “I am excited about the technical possibilities, broad access, and optionality that this integration will offer to the Sui community while simultaneously ensuring KYC compliance at each step.”
Developers utilizing Sui may now take advantage of Banxa’s robust capabilities to enhance their decentralized applications (dApps) with additional functions and compliance measures, thanks to Banxa’s inclusion within the Sui ecosystem. To illustrate the point, the NFT checkout solution will improve the NFT selling experience for consumers. A developer’s ability to streamline the onboarding and offboarding procedures is another way they can enhance the user experience. A decentralized application (dApp) that facilitates an easy and seamless exchange of fiat currency for cryptocurrency is more likely to attract users.
Holger Arians, CEO of Banxa said: “We think Sui is the most powerful and performant blockchain in the space. The rapid growth of the Sui ecosystem since its mainnet launch is something we’re excited to tap into to advance our central objective of increasing the adoption of blockchain technology.”