Sui officially launched native $USDC
According to the official press release of stablecoin issuer Circle, Sui has launched native $USDC at 9 pm yesterday. Users can now obtain $USDC through the Sui on-chain exchange protocol Cetus; the international exchange Coinbase will also open the Sui stored value network for $USDC in the near future.
Previously, the largest stablecoin on the Sui chain was Wormhole Wrapped Assets $wUSDC, which had a market share of 71%. Not only did it have a systemic risk of cross-chain bridge assets being hacked, it also made DeFi users' stablecoin interactions extremely inconvenient, and they often had to perform additional cross-chain steps to transfer stablecoins from EVM public chains such as Ethereum to the Sui network.
With the official authorization of Circle, $wUSDC on Sui chain will be gradually replaced by native $USDC. This move will not only optimize the health of DeFi for Sui ecosystem, but also provide a convenient stable currency transmission channel for participants on the chain; and this will also be expected to introduce mainstream CeFi audiences and further promote the ecological expansion of Sui network.
