Sui Network Launches Stablecoins suiUSDe and USDi with Ethena Labs and BlackRock
Ethena Labs is spearheading the launch of suiUSDe and USDi, introducing a Stablecoin-as-a-Service platform. This move, in collaboration with the Sui Network and LabCorp, aims to bolster the Sui ecosystem's liquidity and DeFi services.
The Sui Network, backed by Ethena Labs and LabCorp, is set to launch suiUSDe and USDi in Q4 2025. This partnership marks a significant step, making Sui the first major non-EVM chain to integrate native stablecoin infrastructure.
suiUSDe, a yield-bearing synthetic dollar, and USDi, a 1:1 USD-pegged stablecoin backed by LabCorp's tokenized money-market fund, will reinforce liquidity within the network. Profits from suiUSDe will be used to buy SUI tokens, further bolstering the ecosystem. The initiative is a first-of-its-kind collaboration between a publicly traded digital-asset treasury, a foundation, and a stablecoin issuer.
SUI Group's chairman envisions creating a next-generation 'SUI Bank' as a central liquidity hub for the ecosystem. This move aims to increase the availability of DeFi services and payment rails on the Sui network. Ethena Labs' USDe, which has already circulated over $14 billion, serves as a model for suiUSDe.
The rollout of suiUSDe and USDi, led by Ethena Labs and supported by the Sui Network and LabCorp, positions Sui as a pioneer among non-EVM chains in offering native stablecoin infrastructure. This development is expected to enhance liquidity, foster DeFi growth, and strengthen the Sui ecosystem.
