The Sui Dollar (USDsui), the stablecoin of the Sui blockchain, went live on Wednesday with the promise that revenue from assets supporting the token can be injected back into the ecosystem from which it originated.
The yield of USDsui-backed bonds and liquid assets can be used to redeem and withdraw tokens in circulation or deployed on decentralized finance (DeFi) protocols and in automated market making to encourage trading, said Adeniyi Abiodun, co-founder of Mysten Labs, early contributors to Sui.
Stablecoin growth has been rapid and the $310 billion market cap industry led by Tether and Circle Internet (CRCL) is entering the global payments arena. Both companies keep all the yield generated by the masses of US Treasury bonds backing their dollar-pegged tokens, USDT and USDC, respectively.
“I think we’re starting to see a dislocation of the business model of stablecoin issuers, where the return is largely reserved for external agencies that don’t really return value to the ecosystem,” said Adeniyi Abiodun, co-founder of Mysten Labs, early contributors to Sui. “This yield can actually be channeled back from the foundation directly into the Sui ecosystem.”
Plans for the coin, issued by Bridge, the stablecoin acquired last year by payments giant Stripe, were first announced near the end of 2025. Sui was built by a group of former Meta engineers who worked on the social media company’s abandoned Libra/Diem digital dollar project.
“Right now, these funds are not touching the ecosystem; they are actually being spent,” Abiodun said in an interview. “We’re looking to close that loop. So it’s the actual yield from real-world finance flowing back into DeFi that creates a flywheel.”
Bootstrapping a stablecoin is not such a big task when your network has carried over $1 trillion worth of stablecoins: like USDT, USDC and other stablecoins, Abiodun said.
“The Sui Foundation owns USDC and other stablecoins today, and so can move a lot of that directly into the Sui dollar. Mysten Labs can do the same thing. On top of that, we actually have a lot of investors and hedge funds that are interested in minting Sui USD. So it’s very easy to get this started,” he said.
Abiodun’s former Facebook colleagues and Libra Coin partners are Mysten Labs co-founders: George Danezis (Chief Scientist), Sam Blackshear (CTO), Evan Cheng (CEO), Kostas Kryptos Chalkias (Chief Cryptographer).
