Bullish exchange lists Sui Dollar stablecoin for trading
Crypto Briefing 2026-10-05 14:19:49
Context: The Sui Dollar, a native stablecoin of the Sui blockchain, has been made available for trading on the Bullish exchange in eligible regions. The stablecoin, traded under the ticker $USDsui, was launched on March 4, 2026, as a fiat-backed, USD-pegged stablecoin native to Sui. It is issued by Bridge, a company owned by Stripe, on a 1:1 basis through its Open Issuance platform.
Key Facts
- The Sui Dollar stablecoin ($USDsui) has a circulating supply of approximately 78.5-78.85 million tokens and a market capitalization of near $78-79 million.
- The stablecoin is backed by a reserve of dollar assets, including US Treasuries, repos, money-market funds, and cash, with an emphasis on short-term Treasuries.
- Yield generated by the reserves of $USDsui is directed toward buybacks of the SUI token and toward liquidity incentives for DeFi on Sui, rather than flowing only to the issuer.
- Stablecoin transfer volumes on the Sui blockchain exceeded $100 billion in early 2026, with $USDsui ranking as the second-largest stablecoin on the chain, behind USDC.