Krisztian Sandor is a reporter on the U.S. markets team focusing on stablecoins and institutional investment. He holds BTC and ETH.
The integration is part of an effort to make the token more embedded into the decentralized finance space, First Digital's CEO said in an interview with CoinDesk.The expansion is part of First Digital's effort to boost FDUSD usage among decentralized finance users, CEO Vincent Chok said in an interview with CoinDesk.
FDUSD, issued under Hong Kong's digital asset rules and backed by U.S. Treasury bills and bank deposits to keep its price anchored to $1, quickly became the fourth-largest stablecoin behind Tether's USDT, Circle's USDC and MakerDAO's DAI, amassing $3.3 billion market capitalization since itsof the Paxos-issued Binance USD stablecoin, ordered by New York state regulators.
"Sui is an up-and-coming network and very supportive of the DeFi space," Chok said in the interview."Their growth within a year is amazing as well, so we want to grow together as a new stablecoin." Sui, created by the developer team that led Meta's shuttered Diem crypto project, has seen a rapid growth in DeFi activity recently. The network's total value locked , a key DeFi metric showing the combined worth of assets on a protocol or blockchain, hasThe expansion to Sui also makes FDUSD the first top stablecoin natively issued on the Sui network.
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