ChainCatcher reports that, according to CoinDesk, the native stablecoin of the Sui blockchain, Sui Dollar (USDsui), is now live. This stablecoin was issued by Bridge, a stablecoin company acquired by payment giant Stripe last year, and the revenue generated from its underlying assets will be reinvested into the Sui ecosystem.
Adeniyi Abiodun, co-founder of Mysten Labs, stated that the earnings from bonds and liquidity assets supporting USDsui will be used to buy back and burn SUI tokens or deployed into 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.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Visa, ANZ Bank, China Asset Management, and Fidelity International have completed a cross-border settlement solution based on Chainlink
Visa, ANZ Bank, China Asset Management, and Fidelity International have completed a cross-border settlement solution based on Chainlink, utilizing the e-HKD program to achieve compliant and secure asset transfers, automated tokenized fund issuance, and real-time identity credential verification.
GateNews16m ago
Bitwise donates $230,000 to support Bitcoin open-source developers, funded by BITB profits.
Digital asset investment firm Bitwise Asset Management announces a donation of $233,000 to support Bitcoin open-source developers. The funds come from profits of its spot Bitcoin exchange-traded fund and will be distributed to three non-profit organizations to promote Bitcoin project development.
GateNews30m ago
Deposit annual interest rate of 6%! X Money launches external testing, directly challenging traditional bank savings
Elon Musk's social platform X launched a limited external beta of X Money this week, offering high-yield deposits with a 6% annual return and a credit card cashback mechanism. Deposits are FDIC insured up to $250,000. Hollywood actor William Shatner participated in the testing and auctioned off spots, attracting widespread attention. X Money plans to integrate multiple functions such as payments, but cryptocurrency payments are not yet integrated.
MarketWhisper37m ago
SOL Strategies Validator surpasses 33,000 wallets, and the stock price rises more than 20% in response.
SOL Strategies Inc. announced in the February monthly update that the validator network has grown to 33,568 individual wallets and disclosed multiple business metrics. Although the stock price rose 20.97% on that day, it has still declined a total of 75.81% over the past six months. The company is committed to establishing diversified revenue streams, including treasury staking, third-party staking, and liquidity staking services, demonstrating its determination to transform into a diversified infrastructure service provider.
MarketWhisper47m ago
RedStone deploys price oracles on Stellar to strengthen DeFi security and RWA pricing infrastructure
RedStone launches price oracle services on the Stellar network to provide real-time price data for the DeFi ecosystem. This move is a necessary measure to strengthen market price reliability after Stellar experienced a security attack. Through a modular data architecture, RedStone enhances data redundancy, improving the flexibility and accuracy of price updates. Additionally, this initiative helps Stellar better meet the needs of lending, asset tokenization, and other financial applications, promoting the development of financial services.
GateNews54m ago
Euro Stablecoin EURA Announced Closure: Angle Protocol Exits the Market, EURC Market Share Continues to Grow
Decentralized stablecoin project Angle Protocol announces it will gradually shut down its euro stablecoin EURA and US dollar stablecoin USDA, with community voting unanimously in favor of the decision. EURA was once a market leader, but due to increased competition, its market cap has dropped to $4 million. Despite the ongoing market expansion, EURA has chosen to exit orderly and allows holders to exchange it for other stablecoins within one year.
GateNews57m ago
