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.
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