Sui Integrates Native USDC, Unlocking New Opportunities for the Sui Ecosystem

Sui, the Layer 1 blockchain offering industry-leading performance and infinite horizontal scaling, and Circle, the issuer of USDC, today announced that native USDC is live on the Sui Network.

Grand Cayman, Cayman Islands, October 8th, 2024, Chainwire

Sui, the Layer 1 blockchain offering industry-leading performance and infinite horizontal scaling, and Circle, the issuer of USDC, today announced that native USDC is live on the Sui Network. This integration marks a significant milestone for the Sui ecosystem, as users will now have direct access to one of the most widely used stablecoins as a native asset on the network.

With the launch of native USDC on Sui, users can now enjoy several key benefits:

- Enhanced liquidity: Native USDC will be available as a standard Sui object, ensuring optimal liquidity and accessibility throughout the Sui ecosystem.

- Increased security: By eliminating the need to bridge USDC and use external bridges, this integration provides a more secure experience for asset transfers.

- Direct on-chain representation: Native USDC is directly represented on the Sui blockchain, removing the complexities and risks caused by bridged assets.

- Canonical cross-chain transfer: The upcoming integration of Cross-Chain Transfer Protocol (CCTP) will enable seamless movement of USDC across supported blockchains.

This integration will also greatly benefit decentralized finance (DeFi) applications on the Sui Network. Protocols can now integrate native USDC to offer improved liquidity, reduced friction, and enhanced user experiences in the realm of DeFi.

“Sui’s integration of native USDC will bring tremendous benefits to developers and users alike,” said Jameel Khalfan, Head of Ecosystem Development at Sui Foundation. “Native USDC grants the Sui community easy access to one of the world’s most stable digital currencies, and the opportunities it unlocks for the ecosystem are endless.”

Several protocols on Sui are integrating native USDC on day 1, including Aftermath Finance, Cetus, DeepBook, FlowX, Hop, Kriya, Navi Protocol, Scallop, Suilend, Sui Wallet, Turbos, Typus, and 7K. Some of these protocols will be offering swaps from bridged USDC to the new native token.

About Sui

Sui is a Layer 1 blockchain that combines unparalleled performance, infinite horizontal scaling, and a unique Move-based architecture to empower Web3 experiences. Sui is designed to handle millions of transactions per second with sub-second finality, enabling instant and seamless interactions for users. Its horizontal scaling capabilities allow for the addition of new validators without compromising performance, paving the way for limitless network growth. With a focus on developer experience, Sui boasts a robust and easy-to-use SDK, making it accessible to developers of all skill levels.

To learn more about Sui, visit sui.io and follow the project on Twitter.

About Circle

Throughout the past decade, Circle has been a global blockchain finance technology company that drives the development of USDC. Together with financial institutions, exchanges, and service providers, we build a financial infrastructure that spans the world, making it easier for businesses of any size to harness the power of stablecoins and blockchain payments.

Contact

Sui Foundation

media@sui.io

READ ALSO