Sui Welcomes Native Stablecoin $USDsui
Sui's blockchain already supports a variety of stablecoins, including the native $USDC issued by Circle, $suiUSDe in partnership with Ethena, $YLDS from Figure, and $USDi backed by BlackRock’s tokenized money market fund, BUIDL.
The Sui network and its ecosystem are now enhanced by the addition of a new native stablecoin, $USDsui, developed by Bridge. Bridge is a company that is part of the larger Stripe family. Stripe, a financial technology company specializing in payment processing, acquired the stablecoin platform Bridge in February of this year, with the deal finalized in mid-October. Bridge's presence on multiple platforms such as Phantom, Hyperliquid, and MetaMask ensures that $USDsui is interoperable not only within Bridge's own ecosystem but also with other stablecoins powered by Bridge.
$USDsui is designed as a multipurpose digital dollar for the Sui ecosystem, intended to fuel its next phase of growth. This compliant stablecoin solution is expected to integrate seamlessly with the Genius Act, a federal framework established for the regulation of payment stablecoins.
Sui unveils USDsui, a native stablecoin issued by @Stablecoin, a @Stripe company.
Fiat-backed, GENIUS-ready, and yield-sharing – USDsui anchors the Sui economy, powering payments, DeFi, and real-world use cases across the network. pic.twitter.com/ehI7txlODL
— Sui (@SuiNetwork) November 12, 2025
Institutional Interest Grows with Grayscale Sui Trust and New ETFs
Institutional engagement with Sui continues to expand, evidenced by the recent trading commencement of The Grayscale Sui Trust, with the ticker $GSUI, on the OTCQX market, part of the OTC Markets Group. Trading began on November 20th. Over-the-Counter (OTC) trading refers to private, direct transactions of cryptocurrencies between two parties, typically involving large volumes. These transactions are negotiated at a single, fixed price, bypassing public exchange order books to ensure discretion and mitigate significant market price fluctuations.
Grayscale is recognized as one of the world's leading investment platforms focused on digital assets. The Grayscale Sui Trust provides investors and institutions with access to Sui. Although the Trust has been available since August 2024, its access was previously limited to eligible accredited investors through private placement. The transition to public markets marks a significant step from its status as a private product.
Today, Grayscale Sui Trust (Ticker: $GSUI) has begun trading on OTCQX @OTCMarkets👇
Learn more about Grayscale Sui Trust (Ticker: $GSUI) and see important disclosures: https://t.co/DcWQ0lS2dOpic.twitter.com/TyFNVmo295
— Grayscale (@Grayscale) November 20, 2025
Furthermore, institutional interest is reflected in two new Exchange Traded Funds (ETFs) from 21Shares. The firm filed for the FTSE Crypto 10 Index and the FTSE Crypto 10 ex-BTC Index, both of which include $SUI. These ETFs are particularly significant for US investors, offering them access to diversified cryptocurrency baskets that feature $SUI.
Sui is now included in both of 21Shares’ new ETFs – the FTSE Crypto 10 Index and the FTSE Crypto 10 ex-BTC Index – giving U.S. investors simple, diversified access to leading crypto assets. https://t.co/LG7Qe8Y7ne
— Sui (@SuiNetwork) November 13, 2025
Perpetual DEXes Flourish on Sui
The market for perpetual futures decentralized exchanges (DEXes) is experiencing significant activity, with notable competition between platforms like Aster and Hyperliquid. Sui's DeFi ecosystem is actively participating in this trend with several key perps platforms:
- •Zo: This perpetual protocol utilizes AI-driven agents to assist users with trading, automated risk management, and on-chain position management.
- •Astros: A perpetual futures DEX and aggregator powered by NAVI Protocol, Astros integrates deep liquidity and lending capabilities to provide users with efficient and seamless perps trading.
- •Aftermath Finance: This platform offers a fully on-chain order-book perpetual trading experience. All trades, matching, and settlements occur on-chain, ensuring transparency, low costs, and self-custody for users.
- •BlueFin: As the leading perps platform on Sui with a 90% market share, BlueFin provides perp futures, spot trading, and lending services. It boasts sub-second settlement times and a user experience comparable to centralized exchanges (CEXes).
- •FlowX Finance: This decentralized derivatives platform offers on-chain perpetual futures characterized by high speed and low fees. Traders maintain full self-custody control over their assets.
Sui's DeFi ecosystem provides a robust selection of options for perpetuals trading. The platform's low latency and native composability enable innovative designs for on-chain derivatives that are distinct from other chains.
Every chain wants perps.
Few can handle them.
Sui’s low latency and native composability are enabling designs no other chain can touch.
Here’s how five teams are pushing onchain derivatives forward 👇
— Sui (@SuiNetwork) November 19, 2025
Sui Ecosystem Demonstrates Consistent Growth
The Sui ecosystem continues to exhibit positive growth across various metrics. Notably, in the realm of BTCFi and Real-World Assets (RWAs):
BTCFi
Currently, approximately 1,300 $BTC are available in Siulend markets, valued at around $110 million based on a $BTC price of $84,000. The cumulative trading volume for $BTC has surpassed $3.2 billion, with daily peaks exceeding $22 million. Various $BTC variants are accessible within the DeFi ecosystem on Sui. This allows users to leverage their assets beyond simple holding, enabling them to lend, restake, and employ yield strategies with tokens that might otherwise be idle.
RWAs
Infrastructure providers like Franklin Templeton and Libre are utilizing Sui's platform for live tokenized products and RWAs. In Europe, VanEck offers a collateralized SUI ETN (Exchange-Traded Note), which provides exposure to the performance of the $SUI token. The issuer holds the actual $SUI tokens in custody to back these notes. Meanwhile, in the US, Canary has filed for a $SUI ETF.
Sui has also become the first non-EVM chain to feature tokenized gold, with the launch of $XAUm by Matrixdock. This token is backed by 99.99% gold held in audited vaults and is now available in the Sui Foundation's treasury, among other locations. $XAUm is being integrated into the DeFi ecosystem.
The @SuiNetwork ecosystem continues to grow.
Protocols on Sui have passed key thresholds this quarter as the network evolves from proving technical capabilities to demonstrating real utility. Here are some examples.
Stablecoins and Payments
Daily stablecoin volumes averaged… pic.twitter.com/qhrdp6Di5t
— Delphi Digital (@Delphi_Digital) November 19, 2025
Conclusion
Despite the current pullback in the broader cryptocurrency market, Sui continues to demonstrate strong performance. The network has a wealth of positive developments to report, including new records in trading volumes and significant institutional interest. These achievements represent a notable positive indicator in the current market environment.