Finance
First Digital’s FDUSD Stablecoin is Officially Live on Sui
Published by Jessica Weisman-Pitts
Posted on November 20, 2024
2 min readLast updated: January 28, 2026
Global Banking & Finance Review®
Company
Published by Jessica Weisman-Pitts
Posted on November 20, 2024
2 min readLast updated: January 28, 2026
Grand Cayman, Cayman Islands, November 20th, 2024, Chainwire
Grand Cayman, Cayman Islands, November 20th, 2024, Chainwire
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 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.
Sui Foundation
media@sui.io
A stablecoin is a type of cryptocurrency designed to maintain a stable value by pegging it to a reserve asset, such as a currency or commodity, to reduce volatility.
DeFi, or decentralized finance, refers to financial services using smart contracts on blockchains, allowing users to lend, borrow, and trade without traditional intermediaries.
A blockchain is a decentralized digital ledger that records transactions across many computers, ensuring that the recorded transactions cannot be altered retroactively.
Interoperability in blockchain refers to the ability of different blockchain networks to communicate and share data with each other seamlessly.
Liquidity refers to how easily an asset can be converted into cash without affecting its market price. High liquidity means assets can be quickly bought or sold.
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