The USD Coin (USDC) stablecoin as of immediately, October 8, is natively hosted on Sui, a cryptocurrency and token network supported by the Ethereum Virtual Machine (EVM).
That USDC is natively in Sui signifies that It is formally issued by the Circle firm on that network and it’s not a “wrapped” token issued by any specific developer.
The Circle firm, which is chargeable for the improvement and issuance of USDC in numerous cryptocurrency networks, communicated via its weblog:
«Native USDC in Sui is now out there! We are happy to announce that native USDC is now out there on the Sui mainnet and is accessible to builders and customers, with out the want for bridges. “Circle Mint and Circle APIs now fully support USDC on Sui, making it easier to access USDC liquidity and the benefits of Sui’s fast and secure network.”
Circle, USDC issuing firm.
Previously a minimum of one “wrapped” model of USDC already existed on SuiwUSDC. From Circle, they make clear that Wormhole (the developer of that different token) was “an integral part of the growth of USDC in Sui.” In any case, Circle emphasizes that wUSDC just isn’t issued by them neither is it equal to the “official” token.
On the Circle web site it may be seen that with this integration, USDC is now natively on 16 cryptocurrency networks. Some of them are Ethereum, Solana, Arbitrum, Near and Polkadot.
The value of Sui (SUI), the native cryptocurrency of the homonymous network, has not had a particular rebound on account of this information. In any case, it’s one among the cryptocurrencies in the prime 100 with the greatest efficiency in the final week and that’s trending.
Last week, CriptoNoticias printed a report exhibiting what expectations there are for the value of Sui.
At the second, SUI is buying and selling close to its all-time highs reached 6 months in the past, as seen in the following TradingView graph:
SUI occupies the place quantity 19 cryptocurrencies and tokens by market capitalization. This is $5.4 billion at the time of this publication.
