Mill City Rebrands to SUI Group, Lists as SUIG on Nasdaq

• Mill City rebrands as SUI Group (SUIG), the first Nasdaq-listed Sui-aligned firm.
• SUI Group aims to build a foundation-backed, scalable digital asset treasury.
• The company plans to utilize SUI via staking, lending, and liquidity services.

Mill City Ventures III, Ltd has officially changed its name to SUI Group Holdings Limited. It has started trading on the Nasdaq Capital Market today, under the ticker SUIG. The move marked a decisive shift from specialty finance operations to a new role as a treasury vehicle directly tied to the Sui blockchain. It also positioned the company as the first publicly traded entity officially aligned with the Sui Foundation, creating a new institutional gateway to the Sui blockchain ecosystem.

The company confirmed that its rebrand reflected a broader strategic focus on SUI treasury operations. Chief Investment Officer Stephen Mackintosh described the change as a defining moment. He said,

This strategic rebrand marks a defining moment in SUI Group’s evolution as we align our identity with our mission to be the premier, foundation-backed SUI treasury company. Our disciplined strategy centers on the long-term accumulation and activation of SUI to support the advancement and adoption of the Sui network.

Additionally, the ticker for options trading on Cboe Global Markets transitioned from MCVT to SUIG, requiring no action from stockholders. The continuity was designed to avoid disruptions as the firm shifted its corporate identity.

Institutional-Grade Exposure to SUI Ecosystem

SUI Group stands out as a publicly traded structure directly tied to the Sui blockchain. The company stated that its treasury model involves not just holding SUI but also strategically deploying tokens. Its activities include staking, lending, liquidity provision, and insurance services, ensuring that SUI assets remain active in supporting ecosystem development.

Chairman Marius Barnett outlined a vision for establishing a “Sui Bank,” with the new corporate structure expected to hold between 5% and 10% ownership in it. The bank would act as the central liquidity nexus and offer network treasury management on a sustainable basis.

Related: Mill City Sets $500M Deal to Back Sui Blockchain Treasury

Risk Profile and Market Outlook

SUI Group also acknowledged the risks tied to this transition. While pursuing its treasury strategy, it will continue specialty finance operations. The model faces regulatory uncertainty, volatility in digital assets, and accounting challenges under U.S. GAAP, including the need to fair-value crypto holdings, which could result in swings in financial reporting.

Despite these risks, SUI Group confirmed its long-term ambition to establish a foundation-backed, large-scale digital asset treasury. The company described its platform as transparent, scalable, and designed to support the Sui network’s expansion. It pointed to Sui’s high-speed and horizontally scalable architecture, which positions the blockchain as a base for applications in finance, gaming, artificial intelligence, and beyond.

CoinMarketCap data showed Sui (SUI) trading at $3.41, reflecting a 19.36% monthly decline. The token has a $12 billion market cap and $1.68 billion in 24-hour trading volume. Out of 10 billion coins, about 3.51 billion SUI are circulating, giving a 14.09% volume-to-market cap ratio. Price data indicated a decline from a late-July peak of above $4.00, underscoring the volatility facing both the token and its aligned corporate vehicle.

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