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.

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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.

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“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."

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“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.”

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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. 

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About Sui

Sui is a first-of-its-kind Layer 1 blockchain and smart contract platform designed from the ground up to make digital asset ownership fast, private, secure, and accessible to everyone. Its object-centric model, based on the Move programming language, enables parallel execution, sub-second finality, and rich on-chain assets. With horizontally scalable processing and storage, Sui supports a wide range of applications with unrivaled speed at low cost. Sui is a step-function advancement in blockchain and a platform on which creators and developers can build amazing user-friendly experiences. For more information about Sui, please visit https://sui.io.

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About First Digital Labs

First Digital Labs is the brand name of FD121 Limited, a Hong Kong-registered subsidiary under the First Digital Group. First Digital Labs is the issuer of FDUSD, a stablecoin with uncompromising trust from Asia, designed to meet the needs of global businesses and institutions to facilitate efficient and compliant global expansion, cross-border payments and trade settlements. 

To learn more about First Digital Labs, visit https://firstdigitallabs.com/

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About FDUSD

First Digital USD (FDUSD) is a fully 1:1 USD-backed stablecoin with uncompromising trust by design offering integrity, accessibility and scalability. FDUSD is always redeemable on a one-to-one basis for cash. Reserves are fully backed by highly liquid cash and cash equivalent assets, held in fully segregated bankruptcy-remote holding structures. Collateral is safeguarded by a top-tier, qualified custodian with a trust license for seamless asset protection and regulatory compliance, with independent attestation reports published monthly. FDUSD is issued onshore out of Asia, and is currently available on Ethereum BNB Chain, and Sui. FDUSD is one of the top three USD-denominated stablecoins by market cap.