Sui launches native stablecoin 'USDsui'

Sui has officially launched its native stablecoin, USDsui, CoinDesk reported. The dollar-pegged stablecoin is issued by Bridge, a company acquired by payments firm Stripe last year. USDsui is designed to channel the returns generated from its collateral assets back into the blockchain ecosystem. The interest income from U.S. Treasury bonds and other liquid assets will be used to either buy back and burn SUI tokens or provide liquidity to DeFi protocols and automated market makers (AMMs).