Sui launching USDsui stablecoin via Bridge amid growing adoption

Sui is planning to launch its own stablecoin via Bridge's Open Issuance as the U.S. dollar-pegged tokens edge further into the financial mainstream.

"USDsui is designed to serve as a foundational stablecoin for the Sui network," according to a statement. "It offers builders a fully integrated, compliant-ready solution that is interoperable across Bridge’s ecosystem and optimized for Sui’s high-performance architecture."

As stablecoin supply maintains steady growth, traditional financial firms like Standard Chartered and Visa are taking a direct interest in stablecoins.

The new stablecoin, to be launched this year, will be accessible across wallets, DeFi protocols, and applications built on Sui's Layer 1 blockchain. The token will be interoperable with stablecoins on Phantom, Hyperliquid, and MetaMask, Sui said in Wednesday's statement.

"USDsui adds another crucial piece of infrastructure that fully leverages the performance and scalability of the Sui Network, augments its existing native stablecoin offerings and gives developers and users a trusted digital dollar that leverages Sui’s unparalleled performance," according to Adeniyi Abiodun, co-founder at Mysten Labs, Sui's core developer.

The stablecoin is meant to comply with the GENIUS Act, the U.S. government's framework for stablecoins, passed into law earlier this year.