Native USDC and Cross-Chain Transfer Protocol are Coming to Sui
USDC’s integration will empower apps on Sui to extend their growth and reach, unlocking new opportunities across all verticals, especially within DeFi.
As a testament to Sui's DeFi strength, native USDC will launch on the network soon. USDC has become one of the fastest growing, regulated, fully reserved digital dollars.
USDC is issued by Circle, a global financial technology firm that enables businesses of all sizes to harness the power of digital currencies and public blockchains for payments. As of September 17, USDC now stands at more than $35 billion and has supported about $1.4 trillion in transactions over the past year. Today, Circle's open and programmable platform and APIs are giving rise to a new generation of financial services and commerce applications.
Integrating USDC on the Sui Network immediately enhances Sui’s utility and interoperability for users and developers, adding liquidity, streamlining transactions, and improving market efficiency across the ecosystem. Additionally, Sui’s thriving DeFi environment, which as of September 17, 2024 boasts over $650 million in total value locked, over $350 million in stablecoin market cap, and consistently ranks near the top of all blockchains in weekly DEX trading volume, provides a key foundation for USDC to continue to scale.
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