While new partnership news comes every day in the cryptocurrency industry, the latest news came from Galaxy Digital.
Crypto company Galaxy Digital has partnered with Mill City Ventures for an investment in SUI.
Galaxy Asset Management, part of Galaxy Digital, will manage Mill City Ventures’ $450 million SUI treasury strategy, the largest in the public markets, according to an official statement.
Galaxy will provide the support Mill City needs to effectively manage its industry-first SUI treasury strategy, including treasury management infrastructure and deep market expertise.
Mill City, a non-bank credit and specialty finance company, will gain institutional-grade execution, liquidity and customized equity strategies through this partnership.
Galaxy Digital is also a major investor in Mill City, participating in Mill City’s $450 million private placement to launch its SUI treasury strategy.
Stephen Mackintosh, Chief Investment Officer of Mill City, said:
“Sui is the infrastructure layer of the next phase of the internet. That’s why Mill City is focused on holding SUI for the long term. It is a great opportunity to have Galaxy’s support as both an asset manager and an investor. Their enterprise-grade infrastructure will enable us to actively manage our SUI treasury, both today and tomorrow. By working with Galaxy, we are moving closer to the future of Web3 that only Sui can make possible.”
*This is not investment advice.