Sui Network announced the launch of USDsui, a fiat-backed native stablecoin issued by Stripe.
The organization says USDsui is built on Bridge’s Open Issuance infrastructure and is interoperable with other stablecoins from platforms such as Phantom, Hyperliquid, and MetaMask.
This asset complies with US regulations and Will be available for wallets, DeFi protocols, and applications within the network. Furthermore, we aim to become a financial pillar within the Sui ecosystem.
Adeniyi Abiodun, co-founder of Misten Labs, the company behind Sui Network, said the launch “links Sui’s native assets with global trade and traditional finance.” Strengthen the vision of a self-reliant digital economy.
After hearing this news, the SUI token price fluctuated slightly. It fell from $2.07 to a low around $1.94 before partially recovering to $2.01.
The announcement comes weeks after Nasdaq-listed SUI Group revealed plans to issue two stablecoins in partnership with Ethena, scheduled for the end of 2025, CriptoNoticias reported.
(Tag to translate) Altcoin
