Athens Exchange Group finalizes technical design of onchain order book on Sui
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Athens Exchange Group, Greece’s national stock exchange, has finalized the design of its zero-knowledge powered fundraising platform set to go live on the Sui blockchain.
Sui Foundation announced the development in a blog post on April 16, noting the partnership between Athens Exchange Group and Mysten Labs.
The completion of technical design is a milestone for real-world finance, Sui noted as the team lauded ATHEX as the stock exchange is set to become the first to offer a fully on-chain orderbook.
A ZK-powered orderbook on Sui
Notably, the latest developments follow an earlier collaboration between Mysten Labs and ATHEX.
In the partnership announced in March 2024, Athens Exchange Group and Mysten Labs said they were looking to build a ZK-powered fundraising platform with ATHEX’s Electronic Book Building as the core product.
EBB will leverage Sui’s blockchain to introduce smart contracts-powered benefits to its customers.
Specifically, ATHEX and Mysten Labs eye a ZKP mechanism that allows EBB’s bidding process to integrate confidential bids. The key aspects to this are privacy and security, transparency, and auditability.
“We are excited to take this important step toward leveraging cutting-edge blockchain and cryptographic technology to create an enhanced capital raising product based on EBB,” said Nikos Porfyris, Chief Operating Officer at Athens Exchange Group. “By integrating zero-knowledge proofs, we aim to uphold the highest standards of compliance and data integrity while boosting operational efficiency for all market participants.”
Partners eye proof of concept
ATHEX and Mysten Labs have been working on a proof of concept (PoC) for the project, with a key milestone being the creation of a fully on-chain order book.
The Greek stock exchange wants to be the first to bring the on-chain order book to Sui.
“The focus on privacy-preserving mechanisms, combined with Sui’s unparalleled speed and security, will enable us to build a state-of-the-art PoC that can evolve into a full-fledged onchain order book, setting a new benchmark for the industry,” said Dr. Kostas Kryptos Chalkios, chief cryptographer and co-founder of Mysten Labs.
As well as real-world assets and tokenization, Sui is finding real traction across gaming and AI agents, among other segments of the market.
Gaming on Sui includes casual and fully on-chain worlds.
Meanwhile, Web3 growth has great potential with AI agents.
The Sui blockchain allows for real-time analytics and decentralised storage among other use cases that are driving AI innovation and adoption.
The post Athens Exchange Group finalizes technical design of onchain order book on Sui appeared first on Invezz
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