Executives from Sui Group Holdings have reported a significant increase in institutional interest in cryptocurrency, despite ongoing market fluctuations. Speaking at Consensus Hong Kong 2026, Chief Investment Officer Stephen Mackintosh characterized 2025 as a pivotal year for institutional adoption, highlighting the rise of digital asset treasury vehicles and the success of spot bitcoin exchange-traded funds (ETFs).
Mackintosh noted that following the implementation of the Genius Act, there has been a marked increase in institutional demand and awareness regarding the potential benefits of cryptocurrency, particularly in areas such as tokenization and stablecoins. He stated, “Post the Genius Act, we’ve seen so much more institutional demand and awareness for what the promise of crypto could deliver.”
Despite fluctuations in market sentiment, Mackintosh emphasized a clear structural shift in the industry. He remarked, “The market, despite all of the sentiment being low, has never been greater,” pointing to record options volumes and the entry of major financial firms like Citadel and Jane Street into the cryptocurrency space. He described a long-term trend where leading financial institutions are investing in infrastructure and talent to capture market share.
Evan Cheng, CEO of Mysten Labs, discussed the future of finance, suggesting a convergence between traditional finance (TradFi) and decentralized finance (DeFi) rather than competition. He explained that while TradFi products typically operate on a T+1 or T+whatever basis, DeFi offers a T+0 model, which he described as a “strictly better product” in terms of settlement.
Cheng posited that this convergence will be driven by tokenization, allowing for immediate collateralization and borrowing against acquired assets. He stated, “You acquire [an asset] and immediately you can collateralize and borrow against it,” which would enable DeFi strategies to be layered on traditional financial exposure.
When asked about the relationship between ETFs and DeFi, Cheng indicated that financial products will continue to evolve. He suggested that while institutional on-ramps may start conservatively, they could eventually incorporate yield or other on-chain mechanics.
Both executives underscored the importance of infrastructure as a key differentiator for Sui. Mackintosh described Sui as “a differentiated proposition” developed by former Facebook engineers behind the Libra project, emphasizing its low latency and high throughput capabilities, which are well-suited for emerging applications such as “agentic commerce,” a term referring to the intersection of artificial intelligence and on-chain transactions.
Sui executives report a notable increase in institutional interest in cryptocurrency, emphasizing the potential of tokenization and the convergence of traditional and decentralized finance. Key financial firms are investing in infrastructure to capture market share, signaling a significant shift in the sector.