Sui, SUIG, and Ethena to Launch Native suiUSDe

Today, Sui and Nasdaq-listed Sui treasury company, SUI Group Holdings Limited (NASDAQ: SUIG, or “SUI Group”), announced the upcoming launch of suiUSDe, a proprietary Sui-native synthetic dollar token powered by Ethena, the creator of USDe, one of the fastest-growing digital dollars with a market cap of over $14 billion. The launch of suiUSDe will mark an industry-first collaboration between a digital asset treasury company, a foundation, and a stablecoin provider.

SuiUSDe will be backed by a mix of digital assets and corresponding short futures positions. In addition to suiUSDe, USDi, a new stablecoin backed by the BlackRock USD Institutional Digital Liquidity Fund (BUIDL) tokenized money market fund, will also launch on Sui later this year.

Powering the next generation of stable assets

With the introduction of suiUSDe, Sui becomes the first non-EVM network to host an income-generating Sui-native stable asset, supported by Ethena’s infrastructure and expertise scaling digital dollars, as well as SUI Group’s growing base of investors seeking exposure to the SUI token and Sui ecosystem. The reserves backing suiUSDe produce revenue, which the Sui Foundation and SUIG will both use to acquire and aggregate additional SUI tokens through purchases made on the open market. 

“Bringing to Sui the first digital dollar of its kind in suiUSDe represents a major step forward and a new pillar of Sui DeFi infrastructure,” said Adeniyi Abiodun, Co-Founder and Chief Product Officer of Mysten Labs, the original contributor to Sui. “This powerful addition to our ecosystem reinforces our commitment to furthering the work of key decentralized exchanges like DeepBook, by connecting the utility of these new stable assets directly to an existing piece of core Sui infrastructure. One of the most trusted products in crypto will soon be native on Sui, proving that major financial institutions see the ecosystem as a preeminent home for their onchain strategies.”

A mechanism for ecosystem growth

The introduction of SuiUSDe also establishes a powerful mechanism for ecosystem growth. All of the net income generated by the natively branded stable asset, minus costs, will be channeled directly back into the Sui ecosystem to purchase the native SUI token. These purchases will be executed both by the Sui Foundation and SUI Group. 

While global stablecoin transfer volume, which surpassed the transfer volume of Visa and MasterCard combined last year, underscores the market's explosive trajectory, mass adoption requires a high-performance foundation. 

Sui is uniquely positioned to provide this foundation, having proven high speed and scale unmatched by any other chain, making it the definitive platform for high-performance stablecoin movement, superior to previous EVM-based income-generating stablecoins. This performance advantage is validated by concrete metrics: in August 2025, Sui recorded an all-time high of $229 billion in stablecoin transfer volume, confirming it as the premier execution layer for the next wave of mainstream finance.

Building the future of finance

“SUIG launching suiUSDe represents our first step to building infrastructure as a treasury vehicle in our vision of creating the new generation of a ‘SUI Bank.’ This is yet another mechanism through which we are driving liquidity and value for the Sui ecosystem,” said Marius Barnett, Chairman of SUI Group. “Through this partnership, we are establishing one of the first publicly traded gateways to the global stablecoin economy.”

“Sui’s performance and composability made it a clear choice for bringing these powerful, new-age stablecoin products beyond the EVM,” said Guy Young, Founder and CEO at Ethena Labs. “This is an exciting time to offer an innovative new dollar product for one of the most robust DeFi environments in crypto.”

The announcement of suiUSDe further cements Ethena’s position as the fastest-growing digital dollar issuer. SuiUSDe is part of Ethena’s latest product line Ethena Whitelabel, which allows the most performant chains and leading consumer-facing apps to launch their own digital dollars with Ethena. SuiUSDe will be available later this year.

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