“Digital Asset Treasury Firm Suig, The Sui Foundation and Ethena Teamed Up to Create Two Propriety Stablecoins for the Network.”, – WRITE: www.coindesk.com
The New Tokens, USDI and SUIUSDE, Are Expectioned to Launch Later This Year, Account to A Press Release. USDI WILL BE BACKED 1: 1 by Blackrock’s Tokenized Money Market Fund Buidl Issued with Tokenization SECURITIZE. Meanwhile, Suiusde Will Mirror Ethena’s $ 14 Billion USDE Offering, A Synthetic Dollar Backed by a Mix of Digital Assets and Short Derivatives.
“WE BELIEVE THIS INITIATIVE WILL ADD Another Powerful Mechanism to Drive Liquidity, Utility, and Long-Term Value Across The Sui Blockchain, While Positioning Suig as One of the FIRST PUB Stablecoin Economy, “Marius Barnett, Chairman of Suig, Said in A Statement.
The Move Is The Latest Example of Crypto Ecosystems Making Steps to Issue Propureetary Stablecoins Partnering with Service Providers Insthead of Solely Rely Rely. USDC$ 0.9997 and Tether’s USDT USDT$ 1,0004.
For example, Hype$ 42.11A Layer-1 Network Known for ITS Popular on-Chain Perpetual Swaps Exchange, Held An Auction for the Rights of Issuing the Native USDH Stablecoin to Curb ITTERSIPIP Stripe Winning the Competition. Megath, an Ethereum Scaling Network Designed for Fast Transactions, ALSO ANNOUNCED TO LAUNCH A NATIVE STABLECOIN, PARTNERING WITH ETHENA.
In august, The Sui Network Processed $ 229 Billion in Stablecoin Transfer Volume, Outpacing ITS PREVIOUS RECORDS, ACCODING TO A SUI Foundation Blog Post. That kind of ThroughPut is Part of What Drew Ethena to the Chain. “Sui’s Performance and Composivity Made It A Clear Choice,” SAID GUY Young, CEO OF EThena Labs.
Usyc, Circle’s Tokenized Money Market Fund, is Currently the FIFTH Largest Offering in the Rapidly Growing $ 8 Billion Tokenized Treasuries Sector.
- Circle’s Tokenized Us Treasury Fund, Usyc, Is Now Available on Solana, Expanding Beyond the Ethereum, Near, Base, and Canton Networks.
- The tokenized Treasury Market Has Grown to Nearly $ 8 Billion, More Than Tripling in Size in A Year Driven by Institute Interest in Real-World Assets on Blockchain Rails.
- USYC HAS A $ 630M MARKET CAP, RANKING FIFTH Among Tokenized Treasury Offers.
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