Sui launching USDsui stablecoin via Bridge amid growing adoption
Quick Take USDsui is designed to serve as a foundational stablecoin for the Sui network. The token will be interoperable with stablecoins on Phantom, Hyperliquid, and MetaMask.
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.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Bitcoin Updates: Bitcoin's Support Level May Influence UNI's Future
- Bitcoin hits six-month low near $95,000 as technical indicators signal bearish momentum below key Fibonacci levels. - UNI traders monitor $94,000-$95,000 zone, linked to Bitcoin's support, amid $1.1B ETF outflows and U.S. government shutdown pressures. - Analysts cautiously optimistic about short-term rebound if Bitcoin stabilizes above 61.8% Fibonacci level at $94,253. - Macroeconomic factors including rare earths trade talks and rate expectations remain critical for crypto market sentiment.
Tether Drives Robotics' "iPhone Moment" by Investing $1.16 Billion in Humanoid Robots
- Tether , issuer of the world's largest stablecoin, plans to lead a €1 billion investment in Neura Robotics, a German humanoid-robotics firm, valuing it at €8-10 billion as part of its AI and automation expansion. - The move aligns with Tether's strategy to diversify its $135 billion in U.S. Treasury reserves and $12 billion in gold into high-growth technologies like AI and robotics. - Neura Robotics, aiming to scale to 5 million units by 2030, has already secured €1 billion in pre-orders and $140 million
Zcash News Update: Zcash Approaches Critical $740 Level—Will It Surge to $750 or Face a Reversal?
- Zcash (ZEC) breaks above $611 confirmation zone, trading near $692.35 with 29.1% 24-hour gains and $4.34B trading volume. - Technical analysts highlight $740 as key breakout target, with potential pullback risks to $660 or $530 if momentum stalls. - Privacy-focused Zcash outperforms broader crypto market amid Bitcoin's six-month low, drawing attention to its structured bullish pattern.
High-Volatility Alert: 5 Memecoins Holding Key Support After a 20%–35% Weekly Rebound
Trending news
MoreCrypto prices
More
