Mysten Labs and Alibaba Cloud Partner to Power Sui Ecosystem Growth

•Mysten Labs has signed a Memorandum of Understanding with Alibaba Cloud to provide archival node services and secure cloud infrastructure services for validators as part of Sui Testnet.
•Both companies will explore collaboration opportunities in the e-commerce and payments sectors.
•Alibaba Cloud is Asia Pacific’s largest cloud services provider, offering elastic computing, database, storage, network virtualization, large-scale computing, security, management, and application services.

Mysten Labs Partners With Alibaba Cloud

Mysten Labs (“Mysten” or the “Company”), a Web3 infrastructure company and initial developer of the Sui Layer 1 blockchain, today announced the signing of a Memorandum of Understanding (“MOU”) with Alibaba Cloud, the digital technology and intelligence backbone of Alibaba Group.

Aim To Provide Archival Node Services

Under the terms of the MOU between Mysten Labs and Alibaba Cloud, they aim to provide archival node services and secure cloud infrastructure services for validators as part of Sui Testnet to better serve developers and customers by creating a more user-friendly and immersive experience. The two companies will enhance collaboration on developing sustainable Web3 ecosystems including builders, communities and others. Additionally both parties will explore cooperation opportunities in the e-commerce and payments sectors.

About Alibaba Cloud

Alibaba Cloud is Asia Pacific’s largest cloud services provider. It offers a comprehensive suite of cloud computing services to customers worldwide including elastic computing database storage network virtualization large-scale computing security management and application services. In December 2022 it announced its Blockchain Node Service which will enable more user friendly immersive Web3 experiences.

Statement From Evan Cheng

Evan Cheng Co-Founder & Chief Executive Officer at Mysten commented “Alibaba Cloud has demonstrated a strong commitment to facilitating the growth of Web3 with its trusted & secure cloud infrastructure We are excited to partner together to introduce entities in e-commerce payments & other areas to the possibilities enabled by Sui & blockchain technology overall”

About Mysten

Mysten was launched by former executives from Meta’s Novi Research & lead architects from Diem blockchain & Move programming language . The Company’s inaugural project Sui is a decentralized proof-of -stake blockchain that builds on important innovations in consensus algorithms & leverages novel data structures to deliver high performance low cost Layer 1