SUI Group (NASDAQ: SUIG), in partnership with Ethena, a DeFi synthetic dollar protocol, and the Sui Foundation, this week announced the launch of suiUSDe, a Sui-native synthetic dollar token, and USDi, a stablecoin backed by the BlackRock USD Institutional Digital Liquidity Fund (BUIDL) tokenized money market fund.
Ethena is the protocol behind USDe. The protocol has surpassed $14.8 billion in total value locked and has integrations across major centralized exchanges and leading DeFi applications.
SUI Group said the suiUSDe and USDi initiatives position it as the first publicly traded digital asset treasury (DAT) company to originate and launch stablecoin infrastructure.
Key features of suiUSDe and USDi include:
- Industry-first collaboration: The first stablecoins launched from a collaboration between a publicly traded DAT, a blockchain foundation, and a leading stablecoin issuer.
- Value generation: A share of net revenue generated from reserves in suiUSDe and USDi, are intended to be used to increase SUI Group’s treasury holdings and strengthen the company’s balance sheet.
- Non-Ethereum Virtual Machine (EVM) native stablecoins: SUI Group said Sui becomes the first non-EVM network to host a native, high-yield stablecoin, powered by Ethena’s infrastructure and bolstered by SUI Group’s treasury.
- Optimized performance: Aims to combine the relative stability of the U.S. dollar with Sui’s high-speed, composable Layer 1 infrastructure, which is expected to enable fast, low-cost transactions and seamless integration across the broader ecosystem.
“With the launch of suiUSDe and USDi, SUI Group is evolving beyond a traditional DAT company to become an infrastructure builder with a long-term vision of creating a next-generation ‘SUI Bank’, that functions as a central liquidity hub for the ecosystem,” said Marius Barnett, chairman of SUI Group. “We believe this initiative will add another powerful mechanism to drive liquidity, utility, and long-term value across the Sui blockchain, while positioning SUIG as one of the first publicly traded gateways to the global stablecoin economy.
“By unlocking new revenue streams tied to stablecoin adoption and transaction flow, we are focused on delivering scalable economic value for our shareholders. We are excited to partner with Ethena and the Sui Foundation to deliver best-in-class DeFi infrastructure, and we look forward to further collaborations as we continue to expand the Sui ecosystem.”
The company expects suiUSDe and USDi to go live before the end of 2025, and will position both stablecoins to drive broader adoption and real-world utility for on-chain financial products, expanding accessibility to U.S. users and beyond.
