Sui Surges Over 35% in a Week Amid Plans To Support Native USDC Stablecoin on the Layer-1 Blockchain
Layer-1 smart contract platform SUI Network (SUI) is surging after announcing plans to support the stablecoin USDC. In a new blog post, USDC issuer and payments platform Circle says that the network will be adding USDC as well as support for Cross-Chain Transfer Protocol (CCTP), which allows interoperability with other prominent blockchains. “SUI enables developers to build apps for a variety of use cases, including DeFi, gaming, DePIN, and ecommerce. With the arrival of native USDC, developers can build with the largest regulated dollar-backed stablecoin in the industry. Additionally, CCTP will enable developers to design cross-chain experiences by connecting their Sui apps to additional blockchains including Arbitrum, Base, Ethereum, Solana, and more. With no need to lock up liquidity, CCTP provides a highly secure and capital-efficient way to transact with USDC across supported blockchains.” According to Circle, not only would CCTP allow the secure...