Native USDC on Sui is now live! We’re excited to announce that native USDC is now available on Sui Mainnet and accessible to developers and users – no bridging required. Circle Mint and Circle APIs now fully support USDC on Sui, making it easy to access USDC liquidity and benefit from Sui’s fast and secure network.
About Sui
Sui is a layer-1 (L1) blockchain that offers fast, secure, scalable, and affordable infrastructure for developers building on-chain apps.1 Sui is the first blockchain based on the Move programming language to support native USDC. With the arrival of USDC, developers can build with the largest regulated dollar-backed stablecoin in the industry.
As a general-purpose blockchain, Sui enables businesses and developers to build apps for a variety of use cases, including DeFi, gaming, DePIN, and ecommerce. As of October 2024, Sui’s ecosystem includes 85+ apps and growing rapidly.2 Move is the foundational programming language for the Sui blockchain, offering businesses and developers a robust framework tailored for managing digital assets like cryptocurrencies and NFTs. Its resource-oriented design and strong safety features not only enhance user experience in decentralized applications but also simplify development for a diverse range of developers.
Understanding native vs bridged
Circle brings USDC natively to new blockchain networks to empower developers to build on a stable foundation they can trust. Native USDC is officially issued by Circle and is redeemable 1:1 for US dollars.3
In the case of Sui, there also exists a “bridged” form of USDC known as wUSDC, which is USDC that has been bridged from Ethereum through Wormhole. Bridged USDC (wUSDC) is not issued by Circle and not compatible or redeemable with Circle Mint or Circle APIs.
Wormhole has been an integral part of the growth of bridged USDC on Sui, which factored into Circle’s decision to bring native USDC to the Sui ecosystem. With Cross-Chain Transfer Protocol (CCTP) coming soon to Sui, Wormhole will be a key integration partner to empower developers and users to transfer USDC natively between blockchains.
Bridged USDC from Wormhole
Token Name: Bridged USDC
Token Symbol: wUSDC
Token Address: 0x5d4b302506645c37ff133b98c4b50a5ae14841659738d6d733d59d0d217a93bf::Coin::COIN::
Native USDC issued by Circle
Token Name: USDC
Token Symbol: USDC
Mainnet Address: 0xdba34672e30cb065b1f93e3ab55318768fd6fef66c15942c9f7cb846e2f900e7::usdc::USDC
Testnet Address: 0xa1ec7fc00a6f40db9693ad1415d0c193ad3906494428cf252621037bd7117e29::usdc::USDC
Developers can view our migration guide for options on migrating bridged USDC to native USDC in their apps.
(NOTE: PLEASE DO NOT ATTEMPT TO SEND BRIDGED WUSDC FROM WORMHOLE TO YOUR CIRCLE MINT ACCOUNT, AS IT MAY NOT BE RECOVERABLE AND COULD RESULT IN A LOSS OF FUNDS.)
The Sui, Mysten Labs, and Wormhole teams will be working with ecosystem participants to help facilitate the migration from bridged wUSDC to native USDC.
Powering new use cases
Exchanges, digital wallets, institutional traders, and developers can access USDC on Sui via Circle Mint and Circle APIs for a number of use cases:
- Build dollar-backed financial products across DeFi, gaming, DePIN, ecommerce, and more
- Create new and innovative DeFi apps like Cetus, Navi Protocol, Suilend, Sui Wallet
- Holding savings in digital dollars without needing a traditional bank account
USDC on Sui will be live on Coinbase soon.
Get started today
Businesses can readily access on/off-ramps for converting fiat currency to USDC on Sui by applying for a Circle Mint account. Individuals and small institutions can access USDC through a network of providers and can visit USDC.com to learn more.
Developers can start building with USDC on Sui with our developer docs – USDC is an open-source, permissionless protocol that anyone can build on.
1 https://sui.io/ (Last accessed Oct 7, 2024)
2 https://sui.directory/ (Last accessed Oct 7, 2024)
3 Circle Mint customers can redeem USDC 1:1 for USD directly with Circle.
