Sui Blockchain Welcomes First Non-EVM Stablecoin, suiUSDe
SUIG Holdings and the Sui Foundation are set to launch suiUSDe, a synthetic dollar token for the Sui blockchain. This move aims to expand liquidity and embed greater value within the Sui ecosystem.
Sui's high throughput and scalability make it an ideal choice for managing stablecoin transactions at both institutional and retail levels. Ethena Labs, recognising this, has chosen Sui for its first non-EVM stablecoin, suiUSDe. This launch marks a significant milestone, as Sui will be the first non-EVM blockchain to host a product of this kind, leveraging Ethena's infrastructure.
The suiUSDe token will be supported by a diversified backing model, combining digital assets and short futures positions for stability and yield. It will directly integrate with existing platforms, bolstering the Sui network's DeFi infrastructure. The launch is expected to introduce new opportunities for liquidity, stability, and institutional engagement across the Sui network.
The Sui Foundation, SUIG Holdings, and Ethena are collaborating to bring suiUSDe to life. With global stablecoin transfers outpacing traditional payment networks, this launch aligns with the accelerating adoption of stablecoins. The Sui Foundation and SUIG will reinvest net income from reserves into purchasing SUI tokens, adding long-term value to the network.
