Sui, SUI Group and Ethena will cooperate to issue stablecoin suiUSDe

Sui and Nasdaq-listed Sui Treasury company SUI Group Holdings Limited announced the upcoming launch of suiUSDe, a native synthetic USD token backed by Ethena and backed by a variety of digital assets and corresponding short futures positions. A second stablecoin, USDi, will also be issued on Sui later this year, backed by the BlackRock USD Institutional Digital Liquidity Fund (BUIDL), a tokenized money market fund.