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The native stablecoin of Sui, Sui Dollar (USDsui), is now officially launched.
Odaily Planet Daily reports that Sui, the native stablecoin of the Sui blockchain, has launched today. The stablecoin is issued by Bridge, a stablecoin company acquired last year by payment giant Stripe. The revenue generated from the assets backing it will be returned to the Sui ecosystem. Adeniyi Abiodun, co-founder of Mysten Labs, stated that the earnings from bonds and liquidity assets supporting USDsui will be used to buy back and burn SUI tokens or deployed into decentralized finance (DeFi) protocols and automated market makers to incentivize trading. This contrasts with mainstream stablecoin issuers like Tether and Circle, which retain all profits. (CoinDesk)