First Digital’s FDUSD Stablecoin Is Officially Live on Sui
FDUSD becomes the second native stablecoin on Sui following USDC’s landmark deployment in early October 2024.
Sui
the layer-one blockchain offering industry-leading performance and infinite horizontal scaling and First Digital Labs the creator of one of the world’s largest stablecoins, FDUSD today announced that FDUSD is live on Sui.FDUSD is the second multi-billion dollar market cap stablecoin to natively integrate with Sui in recent months, strengthening FDUSD’s position as a versatile and interoperable stablecoin while enhancing Sui’s burgeoning DeFi ecosystem where TVL (total value locked) is over $1.5 billion.
With this integration, FDUSD’s multi-chain compatibility now extends to Sui, providing a genuinely interoperable stablecoin capable of driving DeFi applications across countless additional platforms.
By leveraging Sui’s high-performance network combined with its own powerful architecture, FDUSD enables breakthrough use cases that enhance speed and efficiency in data transfers and other on-chain operations.
Additionally, integrating protocols such as NAVI and Cetus and leveraging Sui’s native liquidity layer, DeepBook, will fuel the development of new applications
further expanding FDUSD’s utility within the DeFi landscape.Vincent Chok, founder and CEO of First Digital, said,
“We are thrilled to launch FDUSD on Sui and look forward to the new possibilities this integration brings.
“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.”
Jameel Khalfan, head of ecosystem development at Sui Foundation, said,
“Sui’s DeFi ecosystem continues to surge, recently surpassing $1 billion in TVL and consistently ranking among the top networks in transaction volume.
“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
designed for unprecedented scalability and composability is an ideal platform for stablecoins like FDUSD, which are fully backed by cash and cash equivalents.The network’s object-centric model
powered by the Move programming language enables parallel transaction execution and rich composability, providing developers with the tools to build powerful DApps (decentralized applications) that maximize efficiency.Contact
Sui Foundation
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Grayscale Adds XRP, Solana, Stellar to Private Placement Trusts
Cardano Network Activity Hits 2023 Highs: Is $1.5 ADA Possible?
Chill Guy (CHILLGUY): The Meme Coin That’s All About Taking It Easy
What is Chill Guy (CHILLGUY)? Chill Guy (CHILLGUY) is a meme coin on Solana that embodies the spirit of calmness and simplicity. The meme coin is inspired by a viral meme of a relaxed, low-key dog. It’s a meme that has taken the internet by storm, celebrating the art of not worrying. The character
MARA urges US to lead Bitcoin hash rate for sovereignty