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. Under the terms of the MOU, Alibaba Cloud will 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. 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, Alibaba Cloud announced to reveal its Blockchain Node Service, which will support the growth of the evolving Web3 ecosystem by providing developers with scalable, efficient, and secure infrastructure that supports product development and deployment to enable more user-friendly, immersive Web3 experiences.
“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.
Alibaba Cloud, which has attracted attention recently with its work on Web3 technology, is establishing plans for e-commerce and payment methods with its partnership for Web3. Alibaba Cloud, which explores potential opportunities for payment sectors and e-commerce, emphasized that it will continue its efforts in this direction.
Alibaba, one of the leading companies in technology, has an important place for the Web3 sector with this step it has taken. Noting that he aims to attract people who focus primarily on Web2 to Web3 technology, he continues to explore opportunities for the company in the e-commerce and payment sectors.