SUI Group, Ethena, and Sui Foundation Launch USDi Stablecoin
SUI Group Holdings Limited, Ethena, and the Sui Foundation have united to develop the USDi stablecoin. This collaboration marks the first stablecoin project combining a public treasury firm, a blockchain foundation, and a stablecoin issuer. The initiative is set to drive adoption, open new revenue streams, and strengthen SUI Group's position in the stablecoin market.
Chairman Marius Barnett envisions SUI Group evolving into a next-generation 'SUI Bank', acting as a liquidity hub for the blockchain. The initiative boosts SUI Group's financial position by driving utility within the Sui ecosystem and strengthening its balance sheet. SUI Group has expanded its digital asset footprint with the launch of suiUSDe and USDi, in partnership with Ethena and the Sui Foundation. This is a major step for the $30 billion Sui Network.
The project highlights capital efficiency, as the tokens were launched at minimal cost to SUI Group. It also showcases Sui as the first non-EVM chain to host a native high-yield stablecoin. SUI Group has become the first publicly traded digital asset treasury to launch its own stablecoins using this technology. suiUSDe is a synthetic dollar native to Sui, while USDi is a stablecoin backed by BlackRock's BUIDL tokenized money market fund. Ethena has made USDe one of the largest USD-based digital assets, with over $14.8 billion in total value locked.
The two tokens, suiUSDe and USDi, are expected to strengthen liquidity across the $30 billion Sui Network and are set to go live in Q4 2025. This initiative is a significant step for SUI Group, Ethena, and the Sui Foundation, driving adoption and opening new revenue streams tied to transaction flow and stablecoin demand.
