The Sui blockchain is set to introduce two native stablecoins, suiUSDe and USDi, marking a significant expansion of its financial ecosystem. Announced on October 1, 2025, this initiative involves a partnership between the Sui Foundation, digital asset treasury SUI Group Holdings (a Nasdaq-listed company), and Ethena Labs, the issuer behind yield-generating stablecoin models.
suiUSDe will function as a yield-bearing stablecoin, leveraging Ethena's strategy that pairs digital asset reserves with short futures positions to maintain a one-to-one peg with the U.S. dollar while generating returns for holders. In contrast, USDi is a non-yielding stablecoin backed by BlackRock's USD Institutional Digital Liquidity Fund, offering a straightforward option for payments, settlements, and trading. USDi is scheduled to debut later in 2025, alongside suiUSDe.
A key feature of the launch is the potential use of net proceeds from suiUSDe to fund buybacks of SUI tokens from the open market, creating a feedback loop that could boost token demand. Mysten Labs Co-Founder Adeniyi Abiodun described suiUSDe as a "new pillar of Sui DeFi infrastructure," while SUIG Chairman Marius Barnett referred to it as a step toward building a "SUI Bank" and a public gateway to the stablecoin economy.
This move aims to reduce Sui's reliance on third-party stablecoins like USDT and USDC, deepen on-chain liquidity, and position Sui as a high-performance, non-EVM alternative in the Layer 1 blockchain market. However, regulatory challenges loom, as synthetic stablecoins like suiUSDe may face scrutiny under frameworks such as the GENIUS Act, and SUIG is under federal investigation, which could impact adoption.
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