TechFlow News, March 4: According to CoinDesk, the native stablecoin of the Sui blockchain—Sui Dollar (USDsui)—launched today. USDsui is issued by Bridge, a stablecoin company acquired last year by payments giant Stripe. Revenue generated from the underlying assets backing USDsui will be returned to the Sui ecosystem.
Adeniyi Abiodun, co-founder of Mysten Labs, stated that revenue derived from bonds and liquidity assets supporting USDsui will be used either to repurchase and burn SUI tokens or deployed into decentralized finance (DeFi) protocols and automated market makers (AMMs) to incentivize trading. This contrasts with mainstream stablecoin issuers such as Tether and Circle, which retain all such revenue.
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