On Wednesday, the Sui Foundation announced that it has partnered with the digital asset treasury firm SUI Group and Ethena to introduce the first native stablecoins on Sui, USDi, and suiUSDe.
USDi will be backed by BlackRock’s tokenized money market fund BUIDL, while suiUSDe will be a synthetic dollar backed by digital assets and derivatives similar to Ethena's $14 billion USDe token.
The Sui Foundation believes that the launch will enhance liquidity and utility on the Sui blockchain.
Sui is a Layer 1 blockchain designed to provide top-notch developer and user experiences backed by robust technological foundations. SUI is up 6.2% in the last 24 hours, trading at $3.580 per coin.