The stablecoin USD Coin (USDC) as of today, 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 means that It is officially issued by the Circle company on that network and it is not a “wrapped” token issued by any particular developer.
The company Circle, which is responsible for the development and issuance of USDC in different cryptocurrency networks, communicated through its blog:
«Native USDC in Sui is now available! We are pleased to announce that native USDC is now available on the Sui mainnet and is accessible to developers and users, without the need 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 company.
Previously at least one “wrapped” version of USDC already existed on SuiwUSDC. From Circle, they clarify that Wormhole (the developer of that other token) was “an integral part of the growth of USDC in Sui.” In any case, Circle emphasizes that wUSDC is not issued by them nor is it equivalent to the “official” token.
On the Circle website it can 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 price of Sui (SUI), the native cryptocurrency of the homonymous network, has not had a special rebound as a result of this news. In any case, it is one of the cryptocurrencies in the top 100 with the best performance in the last week and that is trending.
Last week, CriptoNoticias published a report showing what expectations there are for the price of Sui.
At the moment, SUI is trading near its all-time highs achieved 6 months ago, as seen in the following graph of TradingView:
SUI occupies the position number 19 cryptocurrencies and tokens by market capitalization. This is $5.4 billion at the time of this publication.
