Sui

In 2022, the tech giant Meta abandoned its plans to launch its own stablecoin after strong regulatory pressure, but five former engineers picked up the work they had done at Meta and launched Sui, a layer-1 blockchain, in 2023. Mysten Labs, the development company behind Sui, was founded by Evan Cheng, Sam Blackshear, Adeniyi Abiodun, George Danezis, and Kostas Chalkias.