The digital wallet infrastructure developer Dynamic has integrated support for the Layer 1 blockchain Sui.
Sui is now Dynamic's newest supported ecosystem beyond Algorand, Base, Berachain, Bitcoin, Cosmos, Eclipse, Farcaster, Solana, Telegram as well as other Ethereum Virtual Machine and Solana Virtual Machine networks. In addition, developers can incorporate the Dynamic wallet software development kit (SDK) so that Sui users can access decentralized apps such as Crossmint, Relay and xLabs, according to a release shared with The Block.
"Wallet complexity is still one of the biggest blockers to crypto adoption. Dynamic's goal is to abstract that away so developers can onboard users in seconds, no matter what chain or wallet they’re using," Itai Turbahn, Dynamic CEO and co-founder, told The Block in an email. "We're thrilled to help more teams tap into the incredibly powerful world of Sui — its speed, flexibility and secure Move-based architecture."
Dynamic aims to make web3 onboarding easier for both developers and crypto users by developing a flexible SDK, authentication features, fraud prevention tools and other digital asset infrastructure. Dynamic has onboarded over 20 million users who maintain $7.2 billion worth of assets in Dynamic wallets, according to the firm's website.
"In the coming months, we’re making it even easier for fintechs and consumer apps to build experiences that make money more connected across chains and ecosystems," Turbahn said. "We’ll be rolling out advanced global funding flows, server-side wallet controls and authentication for the world’s largest messaging and app platforms."
In December 2023, the firm developing Dynamic raised $13.5 million in Series A financing lead by a16z crypto, The Block previously reported. Dynamic's other backers include Founders Fund, Castle Island Ventures, Solana Ventures and the stablecoin issuer Circle.
SUI is the 20th largest cryptocurrency with a $6.9 billion market capitalization, according to The Block's SUI price page.
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