Sui Group, in collaboration with Ethena, a DeFi synthetic dollar protocol, and the Sui Foundation, are launching suiUSDe, a Sui-native synthetic dollar token, and USDo, a stablecoin supported by BlackRock USD Institutional Digital Liquidity Fund (BUIDL) tokenised money market fund. Ethena is the protocol behind USDe, and has exceeded US$14.8 billion in total value locked and backs one of the biggest user bases of a DeFi protocol, with integrations across key centralised exchanges and large DeFi applications. The suiUSDe and USDi initiatives set up SUI Group as the first publicly-traded digital asset company to originate and unveil stablecoin infrastructure, building a new framework for incorporating on-chain stablecoin issuance with public-market access. Marius Barnett, chairman of SUI Group, says: “With the launch of suiUSDe and USDi, SUI Group is evolving beyond a traditional DAT company to become an infrastructure builder with a long-term vision of creating a next-generation ‘SUI Bank’, that functions as a central liquidity hub for the ecosystem. By unlocking new revenue streams tied to stablecoin adoption and transaction flow, we are focused on delivering scalable economic value for our shareholders.