The Sui Blockchain will soon organize its first native stablcoins, after a tripartite association between the firm of the Digital Treasury of Digital Assets, Sui Group (SUIG), the synthetic dollar protocol and the Sui Foundation.
The new tokens, USDI and Suiusde are expected to be launched at the end of this year, according to a press release. The USDI will be backed 1: 1 by the Blackrock tokenized money fund, Buidl, issued with tokenization tokenization specialist. Meanwhile, Suiusde will reflect the offer of $ 14 billion USDE of Ethena, a synthetic dollar backed by a combination of digital assets and short derivatives.
“We believe that this initiative will add another powerful mechanism to boost liquidity, utility and long -term value through the Sui block chain, while positioning Suig as one of the first public doors doors to the world stable economy,” said Marius Barnett, president of SUIG, in a statement.
Movement is the last example of cryptographic ecosystems that give measures to issue patented stablcoins that are associated with service providers instead of trusting only in existing offers such as Circle’s and Tether’s USDT .
For example, A layer 1 network known for its popular swap exchange in chain in chain, celebrated an auction for the rights of issuing the USDH Stablecoin native to stop its dependence on the USDC, with the native markets in association with Stripe winning the competition. Megaeth, an Ethereum scale network designed for rapid transactions, also announced to launch a native stablecoin, associating with Ethena.
In August, the Sui Network prosecuted $ 229 billion in the Transfer volume of Stablecoin, exceeding its previous records, according to a blog post of the SUI Foundation. That type of performance is part of what attracted Ethena to the chain. “Sui’s performance and composability made him a clear option,” said Guy Young, CEO of Ethena Labs.
