At the recent Token2049 event, the Sui Foundation made a significant announcement regarding the imminent support for native USDC on the Sui network.
Currently, NAVI stands as the top DeFi protocol on Sui, with $120M in USDC liquidity. This constitutes the 3rd largest USDC supply in the industry, next to Aave and Compound. As the inaugural liquidity protocol on Sui, NAVI will integrate Circle’s native USDC asset on DAY 1.
As more blockchain networks adopt USDC, with Sui being the latest addition, the role of permissionless composability—one of the fundamental principles of Web3—becomes increasingly important. This principle has fueled the rapid expansion of new applications and blockchain networks by leveraging existing open technologies.
The integration of Circle’s USDC stablecoin directly into the Sui network enhances capital efficiency and improves the user experience across several dimensions.
This milestone strengthens Sui’s standing in the blockchain i
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