Sui native stablecoin Sui Dollar (USDsui) is now officially launched
Odaily reported that the native stablecoin of the Sui blockchain, Sui Dollar (USDsui), has been launched today. The stablecoin is issued by Bridge, a stablecoin company acquired last year by payment giant Stripe, and the yields generated from its underlying assets will be returned to the Sui ecosystem. Mysten Labs co-founder Adeniyi Abiodun stated that the yields from bonds and liquid assets supporting USDsui will be used to buy back and burn SUI tokens, or deployed to decentralized finance (DeFi) protocols and automated market makers to incentivize trading. This contrasts with mainstream stablecoin issuers such as Tether and Circle, who retain all profits.
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