Sui Foundation Launches USDsui Stablecoin to Capture Network Yield

The Sui Foundation announced the launch of USDsui on November 12 as a native asset to capture yield from stablecoin activities within their ecosystem. Previously, the network handled $412 billion in transfer volume with third-party assets like USDC. By shifting to USDsui, revenue can be generated from underlying reserves, functioning alongside the native SUI asset and integrating with the Deepbook decentralized exchange.

Stripe completed a $1.1 billion acquisition of Bridge on February 4, which will manage blockchain network issuances. Bridge handles reserves through custodians like BlackRock and Fidelity.

Revenue Model and Infrastructure

USDsui utilizes Bridge's Open Issuance platform, launched on September 30, offering customizable yield-sharing mechanics.
This approach allows networks to earn part of the interest from backing assets, unlike traditional models where issuers keep all yields.

Sui's ecosystem expansion has led to a Total Value Locked (TVL) of approximately $1.38 billion, according to DeFiLlama data.

Regulatory Compliance and Market Context

The issuance framework complies with the GENIUS Act, allowing nonbank entities to issue payment tokens under strict reserve management.
There is a growing trend among Layer-1 networks to deploy native assets to internalize economic value.
Sui's move aligns with Stripe's stablecoin payments strategy, targeting global money movement through high-throughput networks.

This marks another instance of native stablecoin launches on Layer-1 blockchains.