Sui native stablecoin Sui Dollar (USDsui) is now officially launched
Odaily reported that the native stablecoin of the Sui blockchain, Sui Dollar (USDsui), was launched today. This 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. Adeniyi Abiodun, co-founder of Mysten Labs, 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 the mainstream stablecoin issuers such as Tether and Circle, who retain all the profits.
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