Sui Network and payments giant Stripe's subsidiary, Bridge, are set to launch a yield-bearing USDsui stablecoin. This stablecoin will join other USD stablecoins following the passing of the landmark GENIUS Act by the Trump Administration a few months ago. The fiat-backed, GENIUS-ready, and yield-sharing stablecoin is designed to anchor the Sui Network economy, powering payments, DeFi, and real-world use cases across the network.
USDsui Stablecoin Launch Details
The USDsui, a native Sui Network stablecoin, is built using Bridge’s Open Issuance platform, as detailed in an official announcement on November 12. It is intended to serve as a foundational stablecoin as Sui Network scales into one of the world’s most active on-chain economies. Builders and developers will benefit from a fully-integrated, GENIUS Act-compliant, and interoperable stablecoin across the ecosystem. Sui has noted that USDsui is optimized for the network’s high-performance architecture. The stablecoin is expected to launch later this year, with wallets, DeFi protocols, and applications built on the Sui blockchain gaining automatic access. The announcement also highlighted that interoperability will extend to other stablecoins powered by Bridge from major platforms such as Phantom, Hyperliquid, and MetaMask.
Benefits for Developers and End Users
USDsui, operating on Bridge’s Open Issuance platform, is positioned as an enterprise-grade stablecoin, drawing parallels to the Ripple USD (RLUSD) stablecoin. It will be supported by the payment infrastructure of Stripe, a leading payment platform. This combination aims to merge on-chain liquidity and sustainability with real-world payment utility, facilitating cross-border payments, remittances, and peer-to-peer transfers. Commenting on the USDsui stablecoin, Mysten Labs co-founder Adeniyi Abiodun expressed his views.
Sui Price Performance and Market Outlook
In recent market activity, the Sui price has experienced a decline of over 2% in the past 24 hours and 30% over the last month, amidst broader cryptocurrency market volatility and weakness in altcoins. At the time of writing, the price was trading at $2.02, with an intraday low and high recorded at $2.01 and $2.09, respectively. Trading volume has also decreased by 23% in the last 24 hours, suggesting a reduction in trader interest. On the daily timeframe, the price is currently below the 50-SMA, 100-SMA, and 200-SMA. The relative strength index (RSI) is moving sideways near 35. Data from CoinGlass indicates significant selling pressure in the derivatives market, with total futures open interest falling by 2.35% to $788.70 million in the last 24 hours. Despite these short-term trends, analyst Ali Martinez has projected a price target of $3 and $4, anticipating a potential rally driven by sustained buying pressure.
