Sui native stablecoin Sui Dollar (USDsui) has officially launched

Odaily News The native stablecoin of the Sui blockchain, Sui Dollar (USDsui), has launched today. This stablecoin is issued by Bridge, a stablecoin company acquired by payment giant Stripe last year, and the yield generated from its underlying assets will be returned to the Sui ecosystem. Adeniyi Abiodun, co-founder of Mysten Labs, stated that the yield generated from the bonds and liquid assets backing USDsui will be used to repurchase and burn SUI tokens, or deployed to decentralized finance (DeFi) protocols and automated market makers to incentivize trading. This contrasts with the model of mainstream stablecoin issuers like Tether and Circle, which retain all profits. (CoinDesk)