Sui Blockchain Announces Native Stablecoins USDi and suiUSDe Backed by Ethena and BlackRock's BUIDL

The Sui blockchain is set to launch its first native stablecoins through a strategic partnership between SUI Group, Ethena protocol, and Sui Foundation. The new stablecoins USDi and suiUSDe will launch later this year, with USDi being 1:1 backed by BlackRock's tokenized money market fund BUIDL through Securitize, while suiUSDe will mirror Ethena's $14 billion USDe synthetic dollar. This initiative aims to enhance liquidity and utility across the Sui ecosystem, positioning SUIG as a public gateway to the stablecoin economy. The move represents a growing trend of blockchain networks developing proprietary stablecoins rather than relying solely on established options like USDC and USDT. Sui's impressive $229 billion stablecoin transfer volume in August demonstrated the network's capability, making it an attractive choice for Ethena's expansion.