SUI Group Holdings Limited (Nasdaq: SUIG) announced plans to launch two stablecoins on the Sui blockchain. The move, made in partnership with Ethena and the Sui Foundation, was revealed today.
The tokens are called suiUSDe, a Sui-native synthetic dollar, and USDi, a stablecoin backed by the BlackRock USD Institutional Digital Liquidity Fund.
The company says the coins will help expand on-chain use and add value to SUI Group’s public treasury.
The rollout is planned before the end of 2025 and will tie stablecoin revenue to the company’s balance sheet.
What the new coins are?
suiUSDe will be a synthetic dollar built on Sui using Ethena’s protocol. USDi will be a stablecoin backed by a tokenised money market fund managed by BlackRock. Ethena is the protocol behind USDe, which the company says is one of the fastest-growing USD digital assets.
The firms say Ethena already supports large vaults of value and many users. SUI Group will be the first publicly traded digital asset treasury company to originate stablecoin infrastructure on a non-Ethereum virtual machine network.
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Why is SUI Group involved?
SUI Group says the launches mark a step from running a treasury to building infrastructure.
The firm plans to use a share of net revenue from the stablecoins’ reserves to grow its own treasury. That, the company says, should strengthen its balance sheet and add long-term value for shareholders and the Sui ecosystem.
The projects are described as low-cost to start and with limited running expenses. SUI Group says this approach fits its goal of building scalable businesses inside the Sui network.
Industry firsts and technical pitch
The partners call this an industry first, and they say no publicly traded DAT has helped originate stablecoins in this way with a blockchain foundation and a major issuer.
Sui will be the first non-EVM network to host a native, high-yield stablecoin using Ethena’s back end. The launch is pitched as a match of dollar stability and Sui’s fast Layer 1 design, which should allow quick and cheap transactions and easy integration across apps on the chain.
How could it affect the ecosystem?
The plan aims to create a central liquidity hub for Sui, and SUI Group says the stablecoins will drive more activity and open paths for on-chain finance.
That could mean more use for DeFi apps and smoother access for users. The company also frames the effort as a way to bring new revenue tied to stablecoin flows to public market investors.
Partner roles and timing
Ethena provides the protocol tech for the synthetic dollar, and the Sui Foundation backs the Sui network work. SUI Group handles the market-facing part and the treasury link.
The firm expects both suiUSDe and USDi to be live before the end of 2025. The teams say they will use this time to position the tokens for broader use and to bring them to more users inside and outside the U.S.
Market context
UnoCrypto reported that Sui recently passed Tron in total DEX volume. The company notes that achievement as part of its push to win share in DeFi. SUI Group presents the stablecoin launches as a next step in that race for leadership and utility.
The company says the projects will be launched at minimal upfront cost, and if the stablecoins gain traction, the new revenue streams could add cash flow to the business.
That could be good for investors and for builders on Sui, and on the other hand, stablecoins face strong competition and regulatory scrutiny in many markets.
How fast users and apps adopt the new tokens will matter for the ultimate impact on the network and on SUI Group’s finances.
SUI Group says the stablecoins aim to strengthen the Sui ecosystem and create a new model of public company-led on-chain issuance. If the tokens work as planned, they could add liquidity and help link public market capital to DeFi activity.
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