The Sui ecosystem is expanding its offer with two native stablecoins, which are scheduled to debut in the fourth quarter of this year. The project is being developed in cooperation with the specialized stablecoin issuer Ethena and the company managing the Sui treasury – Sui Group Holdings.
Two new stablecoins on the Sui network
According to Ethena’s official announcement, two tokens will be released on the Sui mainnet: suiUSDe and USDi. Both will be backed by existing Ethena products such as USDe and USDtb, which is intended to ensure their stability and credibility in the eyes of users.
The suiUSDe token will be designed as a native, yield-generating version of USDe, running directly on the Sui network. The key element of its hedging will be delta-neutral positions in the native SUI token, which will become part of a broader USDe hedging mechanism. This solution is intended to combine stability with the potential for passive income for owners.
The second token, USDi, will be fully collateralized by USDtb – a stablecoin based on the BUIDL token, which is nothing else than a tokenized money market fund managed by BlackRock. This approach is intended to provide USDi with maximum stability and transparency, relying on traditional financial instruments with the backing of one of the largest asset management institutions in the world.
Fight for position on the stablecoin market
Sui’s entry into the stablecoin market is another step in the intense competition between blockchains for users and capital. Stablecoins are the foundation of DeFi ecosystems, enabling the exchange of value, trading and saving without being exposed to the volatility typical of traditional cryptocurrencies.
The presence of native stablecoins could significantly strengthen Sui’s position, especially in the context of growing interest in fast and cheap alternatives to Ethereum. Projects such as Ethena are gaining importance thanks to innovative mechanisms for generating profit, and their integration with new blockchains opens the way to expansion into new markets.
The partnership with BlackRock through BUIDL is also a clear signal of the desire to gain institutional trust. Tokens based on products of traditional financial institutions may attract capital from the TradFi sector, which is still wary of more experimental cryptocurrency solutions.
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What’s next for the Sui network?
The launch of suiUSDe and USDi in the fourth quarter could become a significant test for Sui’s strategy. The success of these stablecoins will depend on community adoption, the effectiveness of their yield mechanisms, and their ability to compete with established players such as USDT and USDC.
This means more opportunities for users – both in terms of investing in tokens that generate passive income and using stable assets for everyday operations on the Sui network. Time will tell whether the new stablecoins will gain popularity and contribute to the growth of the entire ecosystem.
