First Digital’s native stablecoin, FDUSD, has expanded its availability by integrating with the Sui blockchain. With existing integrations on Ethereum and Binance Smart Chain (BNB Chain), this development marks the stablecoin’s expansion onto a third blockchain network.

Vincent Chok, the CEO of FDUSD, expressed his belief that integrating with the Sui network will enhance the stablecoin’s adoption among decentralized finance (DeFi) users. Sui is recognized as a fast-growing network that is highly supportive of the DeFi space. Chok also acknowledged the impressive growth of the Sui network within a year and expressed a desire to grow alongside it as a new stablecoin.

By expanding its presence onto the Sui blockchain, FDUSD aims to tap into the growing DeFi market and provide users on the Sui network with access to a stablecoin that can facilitate seamless transactions and provide stability within the decentralized ecosystem.

This move highlights the ongoing efforts to expand the availability and adoption of FDUSD, positioning it as a viable stablecoin option across multiple blockchain networks and catering to the diverse needs of users in the DeFi space.

Sui TVL (Total Value Locked) Crosses $500 Million Milestone

Sui has emerged as one of the fastest-growing Layer 1 blockchains, and its impressive growth in the DeFi sector has been notable. In February, Sui’s Total Value Locked (TVL) surpassed $500 million, surpassing other prominent networks like Aptos and Cardano at that time.

With the expansion of FDUSD onto the Sui network, it becomes the first major stablecoin to be natively issued on the Sui blockchain. Currently, according to DefiLlama data, Sui hosts other stablecoins like Tether (USDT) and USD Coin (USDC), which amount to approximately $340 million.

The integration of FDUSD onto Sui is expected to have a significant impact on the Sui community. It will contribute to increased liquidity, expand the utility of the network, and unlock new possibilities for builders and users, as highlighted by Greg Siourounis, the managing director of the Sui Foundation, an ecosystem development organization.

Since its launch in August 2023, FDUSD has gained traction in the market. It currently ranks fourth in terms of 24-hour global trading volume, according to Coin Market Cap. The fiat-pegged token has a circulating supply of 3.28 billion tokens, with the majority distributed across the Ethereum and BNB Chain networks.

The integration of FDUSD with the rapidly growing Sui network further solidifies its position as a prominent stablecoin, expanding its reach and potential use cases within the DeFi ecosystem.

First Digital’s native stablecoin, FDUSD, has expanded its availability by integrating with the Sui blockchain. With existing integrations on Ethereum and Binance Smart Chain (BNB Chain), this development marks the stablecoin’s expansion onto a third blockchain network.

Vincent Chok, the CEO of FDUSD, expressed his belief that integrating with the Sui network will enhance the stablecoin’s adoption among decentralized finance (DeFi) users. Sui is recognized as a fast-growing network that is highly supportive of the DeFi space. Chok also acknowledged the impressive growth of the Sui network within a year and expressed a desire to grow alongside it as a new stablecoin.

By expanding its presence onto the Sui blockchain, FDUSD aims to tap into the growing DeFi market and provide users on the Sui network with access to a stablecoin that can facilitate seamless transactions and provide stability within the decentralized ecosystem.

This move highlights the ongoing efforts to expand the availability and adoption of FDUSD, positioning it as a viable stablecoin option across multiple blockchain networks and catering to the diverse needs of users in the DeFi space.

Sui TVL (Total Value Locked) Crosses $500 Million Milestone

Sui has emerged as one of the fastest-growing Layer 1 blockchains, and its impressive growth in the DeFi sector has been notable. In February, Sui’s Total Value Locked (TVL) surpassed $500 million, surpassing other prominent networks like Aptos and Cardano at that time.

With the expansion of FDUSD onto the Sui network, it becomes the first major stablecoin to be natively issued on the Sui blockchain. Currently, according to DefiLlama data, Sui hosts other stablecoins like Tether (USDT) and USD Coin (USDC), which amount to approximately $340 million.

The integration of FDUSD onto Sui is expected to have a significant impact on the Sui community. It will contribute to increased liquidity, expand the utility of the network, and unlock new possibilities for builders and users, as highlighted by Greg Siourounis, the managing director of the Sui Foundation, an ecosystem development organization.

Since its launch in August 2023, FDUSD has gained traction in the market. It currently ranks fourth in terms of 24-hour global trading volume, according to Coin Market Cap. The fiat-pegged token has a circulating supply of 3.28 billion tokens, with the majority distributed across the Ethereum and BNB Chain networks.

The integration of FDUSD with the rapidly growing Sui network further solidifies its position as a prominent stablecoin, expanding its reach and potential use cases within the DeFi ecosystem.

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