Sui Group Holdings will introduce two stablecoins on the Sui blockchain before 2025 ends, marking a historic move for the Nasdaq-listed digital asset treasury. The company has partnered with Ethena to develop suiUSDe and USDi, targeting increased liquidity within the Ethereum Sui ecosystem.
The suiUSDe token will provide yield to holders, while USDi operates without generating returns. Both stablecoins aim to reduce dependence on Circle's USDC and expand financial options across the layer-1 network. Ethena brings significant infrastructure experience, having grown USDe into the third‑largest dollar‑denominated digital asset with over $14.8 billion in total value locked.
This launch positions SUI as the first non‑Ethereum Virtual Machine blockchain to host native high‑yield Ethereum stablecoins. The integration leverages Ethena's established protocol and Sui Group's treasury backing to deliver stability and low transaction costs. Industry observers view this as groundbreaking corporate participation in stablecoin markets.
Sui Group Chairman Marius Barnett described the initiative as transforming the company beyond traditional treasury functions. He envisions creating a “next‑generation SUI Bank” that serves as a liquidity hub for the entire ecosystem. The Ethereum partnership with Ethena and Sui Foundation demonstrates a long‑term commitment to scalable infrastructure development.
The company emphasized capital efficiency as a core benefit, noting minimal launch costs. Net revenue generated from reserves will strengthen Sui Group's balance sheet and treasury position. Officials believe stablecoin adoption will create new revenue streams while enhancing shareholder value.
Sui Group added approximately 20 million tokens to its holdings last month, pushing total SUI holdings past $300 million. The company maintains a direct purchase agreement with Sui Foundation, allowing token acquisition at discounted rates. This arrangement stems from a $450 million private placement that launched the crypto treasury.
Market analysts acknowledge potential challenges include regulatory compliance, reserve transparency, and integration hurdles. Competition from established players like Circle and Tether remains fierce. However, the project signals a notable shift in how publicly traded companies approach Ethereum digital asset management.
The Sui blockchain operates as a proof‑of‑stake layer‑1 network designed to compete with Ethereum and Solana. By merging blockchain speed with dollar stability, Sui Group aims to pioneer new approaches to liquidity building. Its success could reshape how future assets are structured and managed within on‑chain markets.