Sui blockchain Integrates Native USDC
Grand Cayman, Cayman Islands, October 8th, 2024, Chainwire
Sui Leads the Way with Move Language-Based Blockchain
Sui, a Layer 1 Blockchain known for its high performance and horizontal scalability, has collaborated with Circle, the issuer of USDC, to introduce native USDC on the Sui Network. This exciting Development allows Sui users to access one of the most widely used stablecoins directly on the network, eliminating the need for bridged assets and streamlining asset transfers.
Benefits of Native USDC Integration
By incorporating native USDC on Sui, users can benefit from enhanced liquidity and Security through on-Chain representation. This eliminates the complexities and risks associated with using external bridges to access USDC. The transition to native USDC also reduces the exposure to risks related to canonical bridges, providing a more secure environment for asset transfers on the Sui Network.
The upcoming integration of the Cross-Chain Transfer Protocol (CCTP) will further enhance the user Experience by allowing seamless movement of USDC across different supported blockchains. This feature enables swift and secure asset transfers between networks, including Sui, fostering greater interoperability and facilitating the Growth of Decentralized finance (DeFi) applications.
“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, such as Aftermath Finance, Cetus, DeepBook, FlowX, Hop, Kriya, Navi Protocol, Scallop, Suilend, Sui Wallet, Turbos, Typus, and 7K, have already integrated native USDC from day 1. These protocols not only offer swaps from bridged USDC to the new native Token but also pave the way for innovative DeFi applications on the Sui Network.
Enhancing Liquidity and Security Across Networks
The integration of native USDC on Sui not only simplifies the user Experience but also improves the overall liquidity and security of asset transfers on the network. With direct access to USDC as a native asset, users can engage in transactions with greater confidence and efficiency.
Unlocking Opportunities for DeFi Applications
The availability of native USDC on Sui opens up a world of opportunities for DeFi applications on the network. Developers now have the ability to leverage USDC to enhance liquidity, reduce friction, and create more seamless user experiences. This integration marks a significant step forward in the evolution of DeFi ecosystems on Sui.
Contact Information
Sui Foundation
Email: [email protected]
