Summary
- SUI said it will launch its own stablecoin, USD Sui, within the year.
- USD Sui was developed in collaboration with Bridge and was described as a core infrastructure stablecoin for the SUI ecosystem.
- The developer of SUI said the collaboration with Bridge is a historic advancement in connecting to fintech and traditional financial networks.
SUI will launch its own stablecoin.
SUI said on the 12th (local time) that it will launch its own stablecoin 'USD Sui' within the year. Specific launch timing was not disclosed. SUI explained, "USD Sui is a core infrastructure stablecoin for the SUI ecosystem" and "It is designed as a multi-purpose digital dollar and a Genius Law-compatible stablecoin."
USD Sui was developed in collaboration with the stablecoin payments platform Bridge. Bridge is a subsidiary of the global fintech company Stripe.
Adeniyi Abiodun, chief product officer (CPO) of Mysten Labs, the developer of SUI, said, "The collaboration with Bridge is a historic advancement in connecting SUI's native assets to fintech, traditional financial networks, and more."
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
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