Sui, SUI Group, and Ethena will collaborate to issue the stablecoin suiUSDe.

BlockBeats News, October 2nd, according to official sources, SUI Group Holdings Limited, the parent company of Sui and a Nasdaq-listed entity, announced the upcoming launch of suiUSDe, a Sui native synthetic USD stablecoin supported by Ethena. suiUSDe will be backed by various digital assets and their corresponding short futures positions.

In addition to suiUSDe, later this year, another stablecoin, USDi, will also be issued on Sui, backed by the BlackRock USD Institutional Digital Liquidity Fund (BUIDL) tokenized currency market fund.