James Richardson
Sui Group Holdings, a Nasdaq-listed digital asset treasury, is preparing to introduce two new stablecoins on its Layer 1 blockchain, according to a report by The Information. The initiative highlights the companyโs growing ambitions in the stablecoin sector, which is becoming increasingly competitive.
The firm confirmed it will roll out suiUSDe, a yield-bearing token for investors, and USDi, a non-yielding stablecoin. Both tokens will be issued in collaboration with Ethena, a rising player in the stablecoin market. The launch is scheduled to take place before the end of 2025.
With multiple US dollar-pegged tokens preparing to hit the market, competition in the stablecoin sector is expected to intensify. Suiโs move comes at a time when investor demand for secure, scalable, and yield-generating digital dollars is climbing rapidly.
Strengthening SUI Treasury Holdings
In September, Sui Group disclosed that its SUI holdings had exceeded $300 million after the addition of nearly 20 million tokens. This underscores the firmโs expanding balance sheet and commitment to long-term treasury growth.
From Mill City Ventures to Sui Group
Previously known as Mill City Ventures, a short-term lending company, the firm rebranded to Sui Group Holdings after closing a $450 million private placement. The company also holds a deal that enables it to acquire SUI tokens directly from the Sui Foundation at discounted rates.
Positioning Against Ethereum and Solana
Built as a proof-of-stake Layer 1 blockchain, Sui aims to position itself as an alternative to Ethereum and Solana, two of the leading chains in the market. The upcoming stablecoin launch further cements its role as a serious competitor in the DeFi and payments space.
