Sui will soon integrate native USDC and CCTP, increasing its blockchain liquidity and cross-chain transaction capabilities.
Sui Network, a Layer 1 blockchain, is set to integrate native USD Coin (USDC) and cross-chain transfer protocol in a bid to improve its scalability and interoperability.
In a September 17 press release shared with crypto.news, the Sui team said the integration will allow users and developers on the network to leverage USDC for various digital dollar-backed financial products, including applications in decentralized finance, gaming, decentralized physical infrastructure networks, and e-commerce.
“Sui will work with ecosystem applications to gradually transition liquidity from bridged USDC to native USDC, while Wormhole’s Portal bridge will continue to operate as usual.”
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Circle helps builders deliver blockchain services
Ahead of the launch of native USDC, the Ethereum-bridged version will be renamed “wUSDC” on block explorers, the press release said. Circle’s chief product officer Nikhil Chandhok expressed his excitement about supporting Sui’s developer and user community, saying Circle will “help more builders deliver blockchain-based utilities and contribute to efficient payment experiences on Sui and other ecosystems.”
This addition comes just a week after Grayscale opened its Sui Trust to accredited investors, providing exposure to Sui and other cryptocurrencies, and further expanding Grayscale’s product offering.
Sui, currently the 27th largest cryptocurrency by market cap with $2.4 billion, has seen a rebound in its total value locked. After a significant drop from $1.08 billion in May 2024 to $516 million in early August, Sui’s TVL has increased to over $700 million, making it the 10th largest chain by total value locked, according to data from DefiLlama.
