BlackRock

KAIO

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<p><a href="https://x.com/SeiNetwork" rel="noopener noreferrer nofollow">@SeiNetwork</a> is positioning itself as a home for onchain financial markets. The Layer 1 network says that since its mainnet launch in August 2023 it has reached more than 101 million EVM addresses, over 5.2 billion transactions, more than 15,000 EVM tokens and above $16 billion in total DEX volume. These figures are project-reported and have not been independently confirmed here.</p>
<h2 id="trading-focused-design-and-institutional-partners">Trading-Focused Design and Institutional Partners</h2>
<p>Sei's parallelized EVM architecture is built for fast trading, and it has drawn order-book DEXs and perpetuals platforms. Circle describes Sei as <a href="https://www.circle.com/blog/now-available-usdc-cctp-v2-on-sei" rel="noopener noreferrer nofollow">an ultra fast Layer-1 blockchain providing high performance rails for digital asset markets</a>. The network is fully EVM compatible, which lets developers use existing Solidity tools.</p>
<p>Institutional integrations have followed. <a href="https://x.com/Circle" rel="noopener noreferrer nofollow">@Circle</a> brought native <a href="https://x.com/search?q=%24USDC&amp;src=cashtag_click" rel="noopener noreferrer nofollow">$USDC</a> and Cross-Chain Transfer Protocol (CCTP) V2 to Sei in July 2025. <a href="https://blog.sei.io/usdc-cctp-v2-are-live-on-sei/" rel="noopener noreferrer nofollow">According to the Sei blog</a>, Circle Mint supports native USDC on the network, giving businesses on and off-ramps between fiat and the stablecoin. Native USDC replaces the earlier Noble-issued version, and Circle and the Sei Development Foundation have prepared a migration plan to move liquidity across.</p>
<p><a href="https://x.com/Securitize" rel="noopener noreferrer nofollow">@Securitize</a> has also joined. It launched its tokenized Apollo Diversified Credit Fund (ACRED) as its first offering on the network, according to <a href="https://blog.sei.io/ecosystem/the-roundup-061025/" rel="noopener noreferrer nofollow">Sei's weekly roundup</a>. The same post says KAIO brought BlackRock and Brevan Howard tokenized funds to Sei.</p>
<h2 id="usage-and-liquidity-remain-limited">Usage and Liquidity Remain Limited</h2>
<p>On-chain data shows the network is still small relative to its ambitions. <a href="https://defillama.com/chain/sei" rel="noopener noreferrer nofollow">DefiLlama data</a> as of late October 2026 lists about $28 million in DeFi total value locked (TVL), $37.84 million in stablecoins and roughly 2,056 active addresses over 24 hours. That puts daily activity in the low thousands, and TVL sits well behind <a href="https://x.com/Solana" rel="noopener noreferrer nofollow">@Solana</a> and leading <a href="https://x.com/Ethereum" rel="noopener noreferrer nofollow">@Ethereum</a> Layer 2 networks.</p>
<p>The figures mark a sharp fall from the network's 2025 peak. <a href="https://beincrypto.com/sei-network-tvl-ath/" rel="noopener noreferrer nofollow">BeInCrypto reported</a> that Sei's TVL reached an all-time high of $626 million in 2025, citing DefiLlama, after the network won approval from Japan's Financial Services Agency.</p>
<p>The gap between reported cumulative activity and current engagement is the central question for <a href="https://x.com/search?q=%24SEI&amp;src=cashtag_click" rel="noopener noreferrer nofollow">$SEI</a>. Partnerships with Circle and Securitize give the network regulated stablecoin and tokenization infrastructure. Whether that translates into sustained trading volume and deposits will determine if Sei can reach its goal of becoming a leading venue for onchain markets.</p>
<h2 id="sources">Sources</h2>
<p><a href="https://www.circle.com/blog/now-available-usdc-cctp-v2-on-sei" rel="noopener noreferrer nofollow">Circle: USDC and CCTP V2 on Sei</a><br><a href="https://defillama.com/chain/sei" rel="noopener noreferrer nofollow">DefiLlama: Sei chain metrics</a><br><a href="https://blog.sei.io/ecosystem/the-roundup-061025/" rel="noopener noreferrer nofollow">Sei Blog: The Roundup, Week of October 6th, 2025</a></p>
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Sei Network Targets Onchain Financial Markets With 5.2 Billion Transactions but Thin Daily Activity

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