Phantom, a popular crypto wallet used across multiple blockchains, added beta support for the Sui blockchain on Wednesday.

The addition places Sui alongside Solana, Ethereum, Base, and Bitcoin in Phantom’s growing list of supported chains. 

“When we transformed Phantom into a multichain wallet in 2023, we did so with the commitment that only the most capable chains would be integrated into the app,” said Phantom CEO Brandon Millman in a statement. “Sui’s focus on scalability and its superior user experience aligns perfectly with Phantom's goal of making crypto accessible for everyone.”

Sui is the first blockchain added to Phantom that uses the Move programming language, a novel blockchain-agnostic language designed to reduce learning curve for developers and improve security and productivity. Move was originally developed within Facebook parent Meta as part of its shuttered Diem stablecoin project.

“The launch of Sui as the first Move-based chain on the Phantom wallet validates what the community has accomplished in the past year,” said Christian Thompson, Managing Director of the Sui Foundation. 

The network has blossomed in the last year, growing to become the 8th largest blockchain by total value locked with more than $1.6 billion in assets according to data from DefiLlama. In that time, the blockchain’s native SUI token is up 140% to $3.70, making it the 19th largest crypto asset by market cap.

With Phantom’s addition of the chain, users can now seamlessly trade SUI and other tokens on the blockchain, like meme coins, all within the Phantom app or browser extension. 

To activate the chain, users will need to go to their wallet settings and select “active networks” to toggle Sui support. Access for the chain went live around 12pm ET on Wednesday. In the future, Phantom will add additional support for Sui NFTs, fiat onramps, and more. 

Phantom recently raised $150 million at a $3 billion valuation. The multichain wallet currently touts more than 15 million monthly active users and $20 billion worth of token swap volume annually.

MetaMask, the largest Ethereum wallet and Phantom's biggest competition, recently revealed plans to expand beyond the ETH ecosystem—starting with Bitcoin.

Edited by Andrew Hayward

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