This is the biggest news today! Sui becomes the first piece in Stripe's $1.1 billion bet.
Since acquiring Bridge, Stripe has chosen Sui as its first stablecoin infrastructure partner! Last night, USDsui was launched. This gives L1, with 1.5 million daily active users and a TVL of $2 billion, its first compliant native USD asset!
Stripe bypassed more established chains, directly giving Sui as the starting point for its Bridge stablecoin strategy. You'll notice that Sui has been quite active lately, launching institutional products from VanEck to Grayscale, and now it even offers compliant USD payments.
You might be wondering why we keep seeing different stablecoins from Sui; it previously launched suiUSDe and USDi. USDSUI follows a compliant payment path and native ecosystem. suiUSDe is a neutral strategy launched by Ethena + Sui Group, focusing on yield and leverage, while USDi is institutionally oriented.
Anyway, $USDSUI will begin to become Sui's most important stablecoin. @SuiNetwork @SuiNetworkCN
I hold SUI; $SUI is my bag.
Also, USDSUI from @Scallop_io is listed; you can check it out.