Share this article
Sui Blockchain Developer Signs Deal With Alibaba Cloud
The cloud tech giant will provide node services and validator infrastructure for testnet developers.
By Brandy Betz
Updated May 9, 2023, 4:09 a.m. Published Mar 7, 2023, 9:56 p.m.
Make us preferred on Google
Mysten Labs, the initial developer of the Sui layer 1 blockchain, signed a memorandum of understanding with Alibaba Cloud, an arm of Chinese tech conglomerate Alibaba Group (BABA), which has a $235 billion market cap. Alibaba Cloud will provide archival node services and secure cloud infrastructure for validators for Sui’s testnet to help create more user-friendly experiences – widely seen as a key factor in attracting more Web2 people into the Web3 space.
The two companies will also collaborate on developing sustainable Web3 ecosystems and explore potential opportunities in the e-commerce and payment sectors.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
“We are excited to work with Mysten Labs to bring our secure technology and proven solutions to this nascent space to enable more user-friendly, immersive Web3 experiences,” said Daniel Jiang, general manager of the Middle East, Turkey and Africa for Alibaba Cloud Intelligence. “By leveraging Alibaba Cloud’s trusted and world-class security and global compliance capability and strong infrastructure coverage across the globe, we are in a strong position to facilitate the growth of the Web3 ecosystem to better serve customers with scalable, highly efficient and secure infrastructure.”
Alibaba Cloud offers a suite of cloud computing services, including elastic computing, database, storage, large-scale computing and application services. In December, Alibaba Cloud announced its Blockchain Node Service, which provides Web3 developers with scalable, efficient and secure infrastructure
Mysten Labs was launched by former executives of Meta Platforms (Facebook), who were working on the stalled Diem blockchain project. Sui is an advanced proof-of-stake blockchain that uses the consensus mechanism and novel data structures to offer high performance while maintaining low costs.
Read more: Disinvitation From Denver Crypto Conference Reveals Tensions Between Aptos, Sui Blockchains
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Bitcoin income windfall drives Metaplanet to revise full-year revenue forecast upward
The company forecasts revenue of over $100 million for FY2026, with 97.5% of projected sales coming from its Bitcoin Income Generation business.
What to know:
- Metaplanet experienced a volatile end to 2025, posting a paper loss of over 100 billion yen due to a bitcoin correction, but remains optimistic about its future.
- The company forecasts revenue of over $100 million for FY2026, with 97.5% of projected sales coming from its Bitcoin Income Generation business.
- Despite a significant accounting loss, Metaplanet maintains that its business fundamentals are strong, with its BTC yield rising 568% over the past year.
Top Stories
