Backpack Exchange integrates Sui to increase scalability and multichain functionality

• Backpack Exchange records $60 billion in trading volume and is now integrating Sui for multi-chain growth.
• Sui gains support for a Backpack wallet, enabling secure storage and seamless asset management.
• Sui ranks 8th in TVL with a value of $1.5 billion as integrations with Backpack and Phantom drive adoption.

Backpack, a popular wallet and exchange platform, has partnered with Sui, a Layer 1 with valued scalability and speed. This integration will increase the usefulness and convenience of assets for users around the world. Backpack, a trading platform that caters to users in more than 150 countries, has generated more than $60 billion in trading volume since its launch a year ago.

This partnership will help Sui Projects reach users through the commerce and wallets that Backpack offers. The merger is expected to improve the overall user experience on both platforms. Sui users also get access to Backpack’s simple wallet solutions, which integrate with popular coins like Solana and Ethereum. Backpack’s wallet is available for iOS and Android and as a Chrome browser extension. It offers secure storage and easy trading options.

Jameel Khalfan, Global Head of Ecosystem at the Sui Foundation, emphasized the importance of this partnership, saying that Backpack’s regulated exchange and non-custodial wallet will provide the best experience levels that match Sui’s potential for developers, users and enthusiasts.

Rugzak and Sui strive for a future with multiple chains

This integration is one of the most important directions for both systems to move forward in the multichain environment. For Sui, the partnership with Backpack introduces a new model that simplifies trading and asset management. The collaboration improves Sui’s network layer, enabling efficient connections between participants.

Armani Ferrante, CEO and founder of Backpack, outlined the benefits of this partnership for users and developers. Sui’s continuously growing ecosystem offers new perspectives for projects, traders and developers. Backpack’s participation is expected to bring millions of Sui users and boost its multichain strategy.

As Sui is integrated, Backpack is expanding its services and targeting one of the fastest growing blockchain environments. Sui developers and projects will benefit from Backpack’s reliable access to blockchain services and secure infrastructure.

Phantom Wallet joins the Sui ecosystem

Additionally, Phantom Wallet, initially launched for the Solana ecosystem, has been expanded to support Sui. This development shows Sui’s market expansion. Its value has increased by more than 100% in the past month and now stands at a market capitalization of $10.8 billion. Sui also ranks eighth in total value locked (TVL) among blockchain networks, with $1.5 billion.

According to Phantom CEO Brandon Millman, the project has a scalable and developer-centric approach. Both mobile and browser versions of Sui include the wallet integration which is expected to increase the number of features for the Sui audience and attract new participants. This integration aligns well with Sui’s goal of providing fixed and scalable solutions for blockchain consumers and developers.