Sui Introduces suiUSDe & USDi Stablecoins in Partnership With Ethena and a BlackRock-Backed Token Fund

Jakarta, Pintu News – SUI Group Holdings, a digital asset management company associated with the Sui (SUI) blockchain, announced on Wednesday (1/10/25) that it will launch two native stablecoins in partnership with Ethena Labs and Sui Foundation.

The announcement was made at the TOKEN2049 event and marks an industry-first collaboration involving a digital treasury company, a blockchain foundation, and a stablecoin issuer.

SuiUSDe stablecoin

A new stablecoin called suiUSDe, a synthetic dollar built using infrastructure from Ethena (similar to USDe), is expected to launch before the end of 2025.

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“This is our first step in building infrastructure as a treasury vehicle in our vision to create a new generation of ‘Bank SUI’,” said Marius Barnett, Chairman of SUI Group.

“By unlocking new revenue streams derived from stablecoin adoption and transaction flows, we are focused on creating scalable economic value for our shareholders.”

The launch of suiUSDe will mark the first time a non-Ethereum Virtual Machine (non-EVM) blockchain hosts a native stable asset that generates income.

According to the Sui Foundation’s official blog, the net income from this token reserve will be reused to purchase SUI tokens on the open market, creating a “powerful mechanism for ecosystem growth.”

“Bringing the first digital dollar of its kind into the Sui ecosystem through suiUSDe is a big step and sets a new foundation in Sui’s DeFi infrastructure,” said Adeniyi Abiodun, co-founder of Mysten Labs, an early contributor to Sui’s development.

Ethena Labs and Stablecoins on the Sui Network

Ethena (ENA) is the protocol behind USDe, the third largest US dollar-denominated digital asset and one of the fastest growing stablecoins in history.

The two new tokens on the Sui network are part of Ethena’s Whitelabel program, a stablecoin-as-a-service platform that allows blockchains and applications to issue their own digital dollars by leveraging Ethena’s infrastructure.

“Ethena Whitelabel enables the most reliable blockchains, user-facing applications, and digital wallets that already have a distribution of users to create dollar assets instantly with minimal barriers,” Ethena wrote on the X platform during the announcement.

Ethena claims to be the only stablecoin issuer to offer this model at scale, with over $15 billion in assets already in circulation through its main token, USDe.

Sui now joins other tier-one partners such as MegaETH who are also building custom stablecoins through this program. On Wednesday (1/10), MEXC Ventures announced its second investment into Ethena, bringing its total investment value to $30 million.

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USDi

In addition to suiUSDe, SUI Group and Ethena will also launch USDi, a stablecoin backed 1:1 by the BlackRock USD Institutional Digital Liquidity Fund (BUIDL).

BUIDL, which was launched in March 2024, invests in short-term US government bonds and cash-equivalent instruments.

By tokenizing these funds, investors can now own shares on-chain, allowing traditional financial instruments to be represented on the blockchain.

Through USDi, Sui users will gain access to the stability of the US money market with the speed and efficiency of the Sui blockchain.

“We believe this initiative will be another powerful mechanism to drive long-term liquidity, utility and value across the Sui ecosystem, while positioning SUIG as one of the first public gateways to the global stablecoin economy,” added Marius Barnett.

This move demonstrates the growing connection between traditional finance and blockchain-based stable assets. Guy Young, founder and CEO of Ethena Labs, said that Sui’s performance and flexibility made it an ideal choice to deliver this next-generation stablecoin product outside of the EVM ecosystem.

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Reference:

• CCN. Sui Blockchain to Launch Two Native Stablecoins with Ethena Labs, BlackRock-Backed Token Fund. Accessed on October 3, 2025
• Crypto News. Sui & Ethena Launch SUIUSDE Stablecoin, SUI Buybacks to 2025. Accessed on October 3, 2025