The Sui blockchain will soon host its first native stablecoins, following a three-way partnership between publicly-traded digital asset treasury firm SUI Group (SUIG), synthetic dollar protocol Ethena (ENA) and the Sui Foundation.

The new tokens, USDi and suiUSDe, are expected to launch later this year, according to a press release. USDi will be backed 1:1 by BlackRock’s tokenized money market fund BUIDL issued with tokenization specialist Securitize. Meanwhile, suiUSDe will mirror Ethena’s $14 billion USDe offering, a synthetic dollar backed by a mix of digital assets and short derivatives.

"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

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