FDUSD Launches on Sui Blockchain, Expanding Options for DeFi Users

On November 20th, First Digital's stablecoin $FDUSD officially launched on the Sui blockchain, marking a new milestone in the development of the decentralized finance (DeFi) ecosystem on this emerging platform. Previously, FDUSD had been issued on two major blockchains: Ethereum and $BNB Chain, and Sui has become the next name to join the list.

This event reflects the growing confidence of large organizations in the potential of Sui. Over the past year, this blockchain has witnessed remarkable growth, with a total value locked (TVL) reaching 1.57 billion USD, a 430% increase, and DeFi trading volume soaring by 692%.

FDUSD is backed by 2.8 billion USD in assets, including cash and U.S. Treasury bills, as of the end of September 2024. This ensures safety and reliability for users in using FDUSD as a store of value.

With its appearance on $SUI , FDUSD not only helps strengthen this blockchain's DeFi ecosystem but also plays an important role as a bridge between cryptocurrency and traditional finance. This stablecoin is expected to become a popular choice for users seeking stability and reliability in transactions and financial activities.