Sui invests €15M in Athens blockchain hub

The Sui blockchain platform is investing over €15 million to develop a hub in Athens, aiming to serve as a center for innovation and education in Europe.

SuiHub Athens, the company's third global center after Dubai and Vietnam, already employs approximately 30 engineers working with partners to develop applications based on the Sui ecosystem.

Mysten Labs, the company that developed the Sui platform, was founded in 2021 by former Meta executives, including Kostas Chalkias and Giorgos Danezis. It has received funding of over $336 million and is valued at over $2 billion.

The Sui platform aims to provide fast, secure, and cost-effective transactions, supporting DeFi, gaming, and digital asset applications. SuiHub Athens already employs 50 people and is involved in projects such as upgrading the Athens Stock Exchange's Electronic Book Building platform.

Mysten Labs is in discussions with government agencies and the banking sector to utilize Sui technology in managing digital files and other services.

Company executives emphasized that the choice of Athens was based on the country's strategic location, the quality of its human resources, and the dynamic startup ecosystem.