We see more and more traditional finance exploring on-chain options. The Athens Exchange in Greece, ATHEX, is now moving to use a Sui orderbook. This makes them the first national exchange ever to build on a Layer 1.
This cooperation started in March 2024. Now they have both finalized the technical design. So, let’s take a closer look at ATHEX and its cooperation with Sui.
What Is the Cooperation Between ATHEX and Sui All About?
The Greek stock exchange, ATHEX, in Athens, and Sui started to work together last year, in March 2024. ATHEX brought its electronic book building (EBB) platform to Sui. The EBB is a fundraising feature of ATHEX. It allows both early-stage and mature companies to list transferable securities.
Real-world finance meets next-gen blockchain. Greece’s national stock exchange, @ATHEX_Group — is going onchain with Sui.@Mysten_Labs and ATHEX are building a ZK-powered fundraising platform that enhances privacy and speed in traditional capital markets. pic.twitter.com/sFo3dutB4V
— Sui (@SuiNetwork) April 16, 2025
ATHEX already has an existing trading order routing system. The EBB functions as a meta-layer over this routing system. Companies seeking funds can use this EBB. It offers liquidity for their business proposals.
The newest step in this cooperation is that ATHEX and Mysten Labs are ready to upgrade ATHEX’s EBB. In other words, the technical design is ready to go live. It also meets all business requirements. So, the next phase will include a novel zero-knowledge proof (ZKP) mechanism into the bidding process of the EBB. This allows bidders in the EBB to present confidential bids. It also results in enhanced privacy and security. However, stock exchanges need to meet strict transparency and auditability standards. With this setup, ATHEX meets all the needed legal requirements.
At the same time, both ATHEX and Mysten Labs deepened their cooperation. Both teams started the development of a proof of concept (PoC) to pave the way for an on-chain order book. So, what started a year ago still keeps growing to this day and into the future. ATHEX will be the first stock exchange with such an order book.
The Athens Exchange Group, the stock exchange of Greece, is bringing their electronic book building platform to Sui, becoming the first national exchange ever to build on a Layer 1!
Read more via @Cointelegraph: https://t.co/I9JDtMvp1X
— Sui (@SuiNetwork) March 10, 2024
Blockchain technology seems to be a perfect fit for stock exchanges. Especially for EBB-like market mechanisms. Nonetheless, the Athens stock exchange is the first one in the world to start exploring this. For example, ATHEX can mint its securities as digital certificates. This offers a transparent chain of custody. Furthermore, they become transferable and offer strong security.
Conclusion
Mysten Labs started cooperating with the Athens stock exchange. ATHEX, in Greece. Now, Mysten Labs is the team behind Sui. Both teams leverage the functionality of blockchain technology in the ATHEX order book. This makes ATHEX the first stock exchange to explore blockchain technology. This cooperation started a year ago and will continue in the foreseeable future.
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Disclaimer
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We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments, so please do your due diligence. This post is sponsored by Sui.
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