According to Cointelegraph, Jeremy Allaire, co-founder and CEO of USDC issuer Circle, announced that USDC will be launched on the Sui network, expanding the number of blockchain networks it supports to more than 15. Allaire forwarded the announcement of Sui network ambassador Stravia.sui111.sui on X on September 17.
As part of the new integration, USDC will be natively supported on Sui via the Cross-Chain Transfer Protocol (CCTP). CCTP is a permissionless, on-chain tool that enables USDC transfers between blockchain networks through native burning and minting.
Sui is an L1 blockchain and smart contract platform launched in 2023 that aims to simplify and improve the creation of applications and functions in the Web3 ecosystem. Its model is based on the Move programming language and supports parallel transaction execution.
According to an announcement from the Sui Foundation, the integration of native USDC and CCTP is expected to improve Sui’s usability, security, and interoperability.
“The availability of USDC as a native asset on Sui marks another important milestone in the maturation of the Sui ecosystem,” said Adeniyi Abiodun, co-founder and chief product officer of Mysten Labs. “Combined with USDC’s world-class technology, native USDC provides the Sui community with seamless access to one of the world’s most trusted digital currencies and solidifies Sui’s position as an industry leader,” he added.
Cointelegraph reached out to Circle for comment regarding the launch of USDC on Sui but did not receive a response at the time of publication.
