Stablecoin issuer Circle is expanding its native issuance of USD Coin (USDC) and deploying its Cross-Chain Transfer Protocol on the layer-1 blockchain Sui.
In a Sept. 17 X post, Evan Cheng, co-founder and CEO of Mysten Labs, revealed that his firm’s blockchain—Sui—has partnered with Circle to bring USDC to the network.
Cheng did not provide additional information on the partnership. However, market observers noted that the move would boost liquidity in Sui’s fast-rising ecosystem and further attract more users to the network.
Launched in 2023, Sui has quickly gained attention within the crypto space for its simplicity and recent high-flying moves, which include a partnership with automaker DeLorean to bring innovation to the automotive industry and usher the brand into the digital era.
Furthermore, crypto asset management firm Grayscale recently opened its Sui Trust for qualified investors.
USDC’s growing influence
USDC is currently the second-largest stablecoin, with a circu
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