Sui Foundation and Circle Announce Native USDC is Live on the Sui Network
With this integration, users of Sui will have direct access to one of the most widely used stablecoins as a native asset on the network.
Layer 1 blockchain Sui and Circle, the issuer of USDC, have announced the launch of native USDC on the Sui Network.
This integration will provide Sui users direct access to one of the most widely used stablecoins as a native asset on the network, eliminating the complexities and risks associated with bridged assets.
With the launch of native USDC on Sui, users can now enjoy enhanced liquidity and security through direct on-chain representation, eliminating the need to bridge USDC and use external bridges. This transition reduces the risks associated with canonical, or lock-and-mint bridges, offering a more secure experience for asset transfers.
Additionally, the upcoming integration of Cross-Chain Transfer Protocol (CCTP) will enable seamless movement of USDC across supported blockchains, allowing users to transfer assets swiftly and securely between networks, including Sui.
This development opens up significant opportunities for decentralized finance (DeFi) applications on the Sui Network, as protocols can now leverage native USDC to offer improved liquidity, reduced friction, and enhanced user experiences.
“Sui’s integration of native USDC will bring tremendous benefits to developers and users alike,” said Jameel Khalfan, Head of Ecosystem Development at Sui Foundation. “Native USDC grants the Sui community easy access to one of the world’s most stable digital currencies, and the opportunities it unlocks for the ecosystem are endless.”
Several protocols on Sui are integrating native USDC on day 1, including Aftermath Finance, Cetus, DeepBook, FlowX, Hop, Kriya, Navi Protocol, Scallop, Suilend, Sui Wallet, Turbos, Typus, and 7K, with a number offering swaps from bridged USDC to the new native token.
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