KEY TAKEAWAYS
- SUI Group Holdings Limited announces the launch of suiUSDe, a Sui-native synthetic dollar token, in collaboration with Ethena.
- The suiUSDe will be backed by digital assets and short futures positions, marking a significant advancement in Sui’s DeFi infrastructure.
- This initiative aims to drive ecosystem growth by reinvesting net income into the Sui ecosystem to purchase SUI tokens.
- Sui’s platform is positioned as a leading foundation for high-performance stablecoin movement, with a record transfer volume of $229 billion.
Today, SUI Group Holdings Limited (NASDAQ: SUIG), a Nasdaq-listed Sui treasury company, announced the upcoming launch of suiUSDe, a proprietary Sui-native synthetic dollar token. This initiative is powered by Ethena, the creator of USDe, a rapidly growing digital dollar with a market cap exceeding $14 billion. The launch of suiUSDe marks a pioneering collaboration between a digital asset treasury company, a foundation, and a stablecoin provider.
The suiUSDe will be backed by a combination of digital assets and corresponding short futures positions. Alongside suiUSDe, USDi, a new stablecoin backed by the BlackRock USD Institutional Digital Liquidity Fund (BUIDL) tokenized money market fund, is also set to launch on Sui later this year.
Innovative Stablecoin Infrastructure on Sui
With the introduction of suiUSDe, Sui becomes the first non-EVM network to host an income-generating Sui-native stable asset. This development is supported by Ethena’s infrastructure and expertise in scaling digital dollars, as well as SUI Group’s expanding investor base seeking exposure to the SUI token and Sui ecosystem. The reserves backing suiUSDe generate revenue, which the Sui Foundation and SUI Group will use to acquire additional SUI tokens through open market purchases.
Adeniyi Abiodun, Co-Founder and Chief Product Officer of Mysten Labs, the original contributor to Sui, stated that bringing suiUSDe to Sui represents a significant advancement in Sui’s DeFi infrastructure. This addition aims to connect the utility of new stable assets directly to existing Sui infrastructure, reinforcing the ecosystem’s growth.
Driving Liquidity and Ecosystem Growth
The introduction of suiUSDe establishes a mechanism for ecosystem growth, with net income generated by the stable asset being reinvested into the Sui ecosystem to purchase the native SUI token. This strategy is executed by both the Sui Foundation and SUI Group.
Sui’s high-speed and scalable platform positions it as a leading foundation for high-performance stablecoin movement. In August 2025, Sui recorded an all-time high of $229 billion in stablecoin transfer volume, highlighting its capacity as a premier execution layer for mainstream finance.
Marius Barnett, Chairman of SUI Group, noted that launching suiUSDe is a step towards building infrastructure as a treasury vehicle, contributing to the vision of creating a new generation of a ‘SUI Bank.’ This partnership establishes a publicly traded gateway to the global stablecoin economy.
Guy Young, Founder and CEO at Ethena Labs, emphasized Sui’s performance and composability as key factors in choosing it for launching new stablecoin products beyond the EVM. The announcement of suiUSDe further solidifies Ethena’s position as a leading digital dollar issuer.
The suiUSDe is part of Ethena’s latest product line, Ethena Whitelabel, which enables performant chains and consumer-facing apps to launch their own digital dollars with Ethena. The suiUSDe will be available later this year.
For more information, the announcement can be found here.
Why This Matters: Impact, Industry Trends & Expert Insights
The launch of suiUSDe, a Sui-native stablecoin, by SUI Group and Ethena marks a significant milestone in the stablecoin market, particularly for non-EVM networks.
Recent industry reports indicate that stablecoin adoption is driven by regulatory developments and market diversification, with the total supply exceeding $300 billion. This aligns with the introduction of suiUSDe, which further diversifies the stablecoin market by bringing a non-EVM network into the fold.
As per insights from Ethena Labs, the launch of suiUSDe is seen as a strategically significant expansion in the stablecoin market, emphasizing scalability and diversified collateralization. This supports the impact of suiUSDe in enhancing the Sui ecosystem’s liquidity and usability.
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