First Digital’s FDUSD Stablecoin is Officially Live on Sui

Sui, the Layer 1 blockchain offering industry-leading
performance and infinite horizontal scaling, and First Digital Labs, the
creator of one of the world’s largest stablecoins, FDUSD, today announced that
FDUSD is live on Sui. FDUSD is the second multi-billion dollar market cap
stablecoin to natively integrate with Sui in recent months, strengthening
FDUSD’s position as a versatile and interoperable stablecoin while enhancing
Sui’s burgeoning DeFi ecosystem where TVL is over $1.5B.

With this integration, FDUSD’s multi-chain compatibility now
extends to Sui, providing a genuinely interoperable stablecoin capable of
driving DeFi applications across countless additional platforms. By leveraging
Sui’s high-performance network combined with its own powerful architecture,
FDUSD enables breakthrough use cases that enhance speed and efficiency in data
transfers and other on-chain operations. Additionally, integrating protocols
such as NAVI and Cetus and leveraging Sui’s native liquidity layer, DeepBook,
will fuel the development of new applications, further expanding FDUSD’s
utility within the DeFi landscape.

“We are thrilled to launch FDUSD on Sui and look forward to
the new possibilities this integration brings,” said Vincent Chok, Founder and
CEO of First Digital. “By leveraging Sui’s unique object-centric design, FDUSD
gains access to ultra-fast transaction speeds, low fees, and unmatched
scalability. Today’s deployment augments FDUSD’s multi-chain compatibility and
strengthens on-chain liquidity in what is already a thriving DeFi ecosystem,
paving the way for even more innovation on Sui.”

“Sui’s DeFi ecosystem continues to surge, recently
surpassing $1 billion in TVL and consistently ranking among the top networks in
transaction volume,” said Jameel Khalfan, Head of Ecosystem Development at Sui
Foundation. “The addition of FDUSD, one of the industry’s leading stablecoins,
will further accelerate this growth, unlocking new and impactful use cases for
both users and developers across the ecosystem.”

Sui’s (https://sui.io/) blockchain, designed for
unprecedented scalability and composability, is an ideal platform for
stablecoins like FDUSD, which are fully backed by cash and cash equivalents.
The network’s object-centric model, powered by the Move programming language,
enables parallel transaction execution and rich composability, providing
developers with the tools to build powerful decentralized applications (dApps)
that maximize efficiency.

This article was written by FL Contributors at www.forexlive.com.