Sui, the Layer 1 blockchain renowned for its unparalleled performance and limitless horizontal scaling, has officially integrated FDUSD, the stablecoin developed by First Digital Labs, one of the largest in the world.
Layer 1 blockchain Sui, known for its high performance and limitless horizontal scaling, has integrated stablecoin FDUSD, developed by First Digital Labs, one of the largest Web3 companies in the world. This marks a significant milestone as FDUSD goes live on the Sui network.
In recent months, FDUSD has become the second multi-billion dollar market cap stablecoin to integrate seamlessly with Sui. This move solidifies FDUSD’s status as a versatile and interoperable stablecoin and bolsters Sui’s rapidly growing DeFi ecosystem, which boasts a total value locked (TVL) exceeding $1.5 billion.
This integration enhances FDUSD’s multi-chain capabilities by incorporating Sui, resulting in a truly interoperable stablecoin that can propel DeFi applications across many platforms. Utilizing Sui’s robust network and advanced architecture, FDUSD unlocks innovative use cases that significantly boost speed and efficiency in data transfers and various on-chain operations.
Moreover, the incorporation of protocols like NAVI and Cetus, alongside Sui’s native liquidity layer, DeepBook, is set to propel the creation of innovative applications, significantly enhancing FDUSD’s functionality within the DeFi ecosystem.
“We are thrilled to launch FDUSD on Sui and look forward to the new possibilities this integration brings,” said Vincent Chok, Founder and CEO of First Digital. “By leveraging Sui’s unique object-centric design, FDUSD gains access to ultra-fast transaction speeds, low fees, and unmatched scalability. Today’s deployment augments FDUSD’s multi-chain compatibility and strengthens on-chain liquidity in what is already a thriving DeFi ecosystem, paving the way for even more innovation on Sui.”
“Sui’s DeFi ecosystem continues to surge, recently surpassing $1 billion in TVL and consistently ranking among the top networks in transaction volume,” said Jameel Khalfan, Head of Ecosystem Development at Sui Foundation. “The addition of FDUSD, one of the industry’s leading stablecoins, will further accelerate this growth, unlocking new and impactful use cases for both users and developers across the ecosystem.”
Sui’s blockchain, engineered for unmatched scalability and composability, is a prime foundation for stablecoins such as FDUSD, which are entirely backed by cash and cash equivalents. The network’s object-centric architecture, driven by the Move programming language, facilitates parallel transaction execution and enhances composability, equipping developers with the essential tools to create robust decentralized applications (dApps) that optimize efficiency.
