SUI Group has announced the introduction of its first native stablecoins, suiUSDe and USDi, on the Sui blockchain. This initiative is in partnership with Ethena Labs and the Sui Foundation. USDi will be backed by tokenized shares of BlackRock’s USD Institutional Digital Liquidity Fund, while suiUSDe will employ a delta-neutral strategy using crypto collateral and short futures positions. Ethena Labs' USDe, a synthetic dollar, has seen its market cap soar to $148 billion, more than doubling since July. The global stablecoin market now exceeds $3 trillion, with USDT and USDC maintaining their lead in trading volume.