USD Coin (USDC) to Launch on Sui Network, Announces Circle CEO
Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...
Circle, the issuer of USD Coin (USDC), is expanding its stablecoin to the Sui network, a layer-1 (L1) blockchain platform.
Circle CEO Jeremy Allaire announced the news during an event in Singapore, expanding USDC’s presence across more than 15 blockchain networks.
The integration of USDC on Sui will be powered by the Cross-Chain Transfer Protocol (CCTP), which enables seamless transfers of USDC between blockchain networks via a mechanism of native minting and burning.
The addition of USDC enhances Sui’s interoperability and security, offering developers and users increased functionality on the platform.
Sui, launched in 2023, is an L1 blockchain designed for Web3 applications, with a focus on simplifying decentralized application development through parallel transaction execution.
Built using the Move programming language, it offers advanced scalability and security for decentralized finance (DeFi) solutions.
Excited to partner with our friends at @circle. USDC is coming to @SuiNetwork ! pic.twitter.com/0aUDrUxoNV
“The availability of USDC as a native asset on Sui marks another important milestone in the maturation of the Sui ecosystem,” Adeniyi Abiodun, co-founder and chief product officer of Mysten Labs, the team behind the Sui network, said.
“Combined with USDC’s world-class technology, the native USDC provides the Sui community with seamless access to one of the world’s most trusted digital currencies and solidifies Sui’s position as an industry leader.”
The addition of USDC on sui comes shortly after Circle partnered with
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