{"id":22054,"date":"2024-11-20T14:21:55","date_gmt":"2024-11-20T14:21:55","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=22054"},"modified":"2024-11-20T14:21:55","modified_gmt":"2024-11-20T14:21:55","slug":"first-digitals-fdusd-stablecoin-is-officially-live-on-sui","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=22054","title":{"rendered":"First Digital\u2019s FDUSD Stablecoin is Officially Live on Sui"},"content":{"rendered":"

[PRESS RELEASE \u2013 Grand Cayman, Cayman Islands, November 20th, 2024]<\/strong><\/p>\n

FDUSD becomes the second native stablecoin on Sui following USDC\u2019s landmark deployment in early October<\/em><\/p>\n

Sui<\/a>, the Layer 1 blockchain offering industry-leading performance and infinite horizontal scaling, and First Digital Labs<\/a>, the creator of one of the world\u2019s 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\u2019s position as a versatile and interoperable stablecoin while enhancing Sui\u2019s burgeoning DeFi ecosystem where TVL is over $1.5B.<\/p>\n

With this integration, FDUSD\u2019s multi-chain compatibility now extends to Sui, providing a genuinely interoperable stablecoin capable of driving DeFi applications across countless additional platforms. By leveraging Sui\u2019s 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\u2019s native liquidity layer, DeepBook, will fuel the development of new applications, further expanding FDUSD\u2019s utility within the DeFi landscape.<\/p>\n

\u201cWe are thrilled to launch FDUSD on Sui and look forward to the new possibilities this integration brings,\u201d said Vincent Chok, Founder and CEO of First Digital. \u201cBy leveraging Sui\u2019s unique object-centric design, FDUSD gains access to ultra-fast transaction speeds, low fees, and unmatched scalability. Today\u2019s deployment augments FDUSD\u2019s 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.\u201d<\/p>\n

\u201cSui\u2019s DeFi ecosystem continues to surge, recently surpassing $1 billion in TVL and consistently ranking among the top networks in transaction volume,\u201d said Jameel Khalfan, Head of Ecosystem Development at Sui Foundation. \u201cThe addition of FDUSD, one of the industry\u2019s leading stablecoins, will further accelerate this growth, unlocking new and impactful use cases for both users and developers across the ecosystem.\u201d<\/p>\n

Sui\u2019s 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\u2019s 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.<\/p>\n

The post First Digital\u2019s FDUSD Stablecoin is Officially Live on Sui<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

[PRESS RELEASE \u2013 Grand Cayman, Cayman Islands, November 20th, 2024] FDUSD becomes the second native stablecoin on Sui following USDC\u2019s landmark deployment in early October Sui, the Layer 1 blockchain offering industry-leading performance and infinite horizontal scaling, and First Digital Labs, the creator of one of the world\u2019s largest stablecoins, FDUSD, today announced that FDUSD […]<\/p>\n","protected":false},"author":0,"featured_media":22055,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-22054","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/22054"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=22054"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/22054\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/22055"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=22054"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=22054"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=22054"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}