Sui Blockchain to Launch suiUSDe, Its First Stablecoin
The Sui Foundation, SUIG Holdings, and Ethena are teaming up to launch suiUSDe, a synthetic dollar token tailored for the Sui network. This move, set for later this year, will introduce new liquidity and stability opportunities across the Sui network.
Sui, known for its high throughput and scalability, is the first non-EVM blockchain to host a product like suiUSDe. It will leverage Ethena's infrastructure for stability and issuance. The suiUSDe token will have a diversified backing model, combining digital assets with short futures positions to ensure both stability and yield.
SUIG Holdings is also developing a SUI Bank concept, aiming to expand liquidity and embed greater value within the Sui ecosystem. The new token will directly integrate with existing platforms, bolstering the Sui network's DeFi infrastructure. The Sui Foundation and SUIG will reinvest net income from reserves into purchasing SUI tokens, adding long-term value to the network.
The launch of suiUSDe later this year will mark a significant milestone for the Sui network. It comes at a time when global stablecoin transfers are surpassing traditional payment networks, indicating accelerating adoption. With suiUSDe, Sui aims to attract more institutional engagement and strengthen its DeFi capabilities.
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