Ethena is the protocol behind USDe, the third-largest and fastest-growing USD-denominated digital asset in history. The protocol has surpassed $14.8 billion in total value locked and supports one of the largest user bases of any DeFi protocol, with integrations across major centralized exchanges and leading DeFi applications.
The suiUSDe and USDi initiatives position SUI Group as the first publicly traded digital asset treasury (“DAT”) company to originate and launch stablecoin infrastructure, establishing a new model for integrating on-chain stablecoin issuance with public-market access. Key features of suiUSDe and USDi include:
* Industry-First Collaboration: The first stablecoins launched from a collaboration between a publicly traded DAT, a blockchain foundation, and a leading stablecoin issuer.
* Value Generation: A share of net revenue generated from reserves in suiUSDe and USDi, are intended to be used to increase SUI Group’s treasury holdings and strengthen the Company’s balance sheet — which should enhance long-term value creation for both SUIG shareholders and the broader Sui ecosystem.
* Capital Efficiency: Launched at minimal cost to SUI Group and with limited ongoing expenses, these initiatives demonstrate the structural discipline behind SUI Group’s operating playbook which aims to build scalable, long-term businesses within the Sui ecosystem to drive cash flow and enhance shareholder returns.
* First Non-Ethereum Virtual Machine (“EVM”) Native Stablecoins: Sui becomes the first non-EVM network to host a native, high-yield stablecoin, powered by Ethena’s infrastructure and bolstered by SUI Group’s treasury.
* Optimized Performance: Aims to combine the relative stability of the U.S. dollar with Sui’s high-speed, composable Layer 1 infrastructure, which is expected to enable fast, low-cost transactions and seamless integration across the broader ecosystem.
“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,” said Marius Barnett, Chairman of SUI Group. “We believe this initiative will add another powerful mechanism to drive liquidity, utility, and long-term value across the Sui blockchain, while positioning SUIG as one of the first publicly traded gateways to the global stablecoin economy. By unlocking new revenue streams tied to stablecoin adoption and transaction flow, we are focused on delivering scalable economic value for our shareholders. We are excited to partner with Ethena and the Sui Foundation to deliver best-in-class DeFi infrastructure, and we look forward to further collaborations as we continue to expand the Sui ecosystem.”
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