Alvin Lang
Oct 02, 2025 02:26
Sui, SUIG, and Ethena collaborate to introduce suiUSDe, a Sui-native synthetic dollar, enhancing the DeFi ecosystem with innovative stablecoin solutions.
The Sui Foundation, in partnership with SUIG Holdings and Ethena, has announced the forthcoming launch of suiUSDe, a new Sui-native synthetic dollar token. This innovative asset aims to bolster Sui’s DeFi ecosystem, marking a significant collaboration between a digital asset treasury company, a foundation, and a stablecoin provider, according to Sui Foundation.
Powering the Next Generation of Stable Assets
The suiUSDe token will be supported by a mix of digital assets and short futures positions, providing a stable and income-generating asset on the Sui network. This development positions Sui as the first non-EVM network to host such a stable asset, with backing from Ethena’s infrastructure. The revenue generated from the reserves will be used by both the Sui Foundation and SUIG to acquire additional SUI tokens, enhancing the ecosystem’s value.
Adeniyi Abiodun, Co-Founder and Chief Product Officer of Mysten Labs, highlighted the significance of this launch as a new pillar in the Sui DeFi infrastructure, connecting stable assets directly to existing Sui infrastructure like decentralized exchanges. This initiative is expected to attract major financial institutions to the Sui ecosystem.
A Mechanism for Ecosystem Growth
The introduction of suiUSDe is set to drive ecosystem growth by channeling net income back into purchasing the native SUI token. This strategy aligns with the global trend of rising stablecoin transfer volumes, which have recently surpassed those of Visa and MasterCard combined, illustrating the market’s rapid expansion.
Sui’s high-speed and scalable blockchain provides a robust foundation for stablecoin transactions, with a record $229 billion in stablecoin transfer volume recorded in August 2025, reinforcing its position as a premier platform for stablecoin movement.
Building the Future of Finance
Marius Barnett, Chairman of SUI Group, emphasized the strategic importance of suiUSDe as part of their vision to create a ‘SUI Bank,’ enhancing liquidity and value within the Sui ecosystem. Guy Young, CEO of Ethena Labs, noted Sui’s performance and composability as key factors in choosing it for launching this new stablecoin product beyond the EVM environment.
The suiUSDe launch further solidifies Ethena’s status as a leading digital dollar issuer, with the token forming part of Ethena’s Whitelabel product line, enabling high-performance chains and consumer-facing apps to launch their digital dollars. The suiUSDe is set to be available later this year, promising to enhance the DeFi landscape with cutting-edge stablecoin solutions.
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