The Sui Network has processed over $1 trillion in stablecoin transfer volume since August 2024, according to Adeniyi Abiodun, co-founder and Chief Product Officer at Mysten Labs, the company that built the network.
- The Sui Network has processed over $1 trillion in stablecoin transfer volume since August 2024, according to Adeniyi Abiodun, co-founder...
- In January 2026 alone, the network processed over $111 billion in stablecoin transfers.
- The network runs on the Move programming language and uses parallel transaction execution to process high volumes at low cost.
- “That yield effectively can get funnelled back from the foundation straight to the Sui ecosystem.” The global stablecoin market currently has...
Keep reading for the full breakdown on Adeniyi Abiodun — everything you need to know is covered below.
In January 2026 alone, the network processed over $111 billion in stablecoin transfers. The figures place Sui ahead of rival chains, including Arbitrum and Polygon, in stablecoin activity, and now underpin the company’s push to reshape how digital payments work at the protocol level.
How Sui Network achieved the milestone
Mysten Labs founded Sui in 2021, drawing on a team of former Meta engineers who previously worked on the company’s abandoned Libra/Diem digital dollar project.
The network runs on the Move programming language and uses parallel transaction execution to process high volumes at low cost.
Infrastructure, Abiodun says, made the trillion-dollar stablecoin figure achievable within roughly 18 months. He identified a structural issue with how stablecoin issuers currently operate.
“I think we are starting to see a dislocation of the business model of stablecoin issuers, whereby the yield is largely kept to external agencies that don’t really pour value back to the ecosystem,” he said. “That yield effectively can get funnelled back from the foundation straight to the Sui ecosystem.”
The global stablecoin market currently has a combined market cap of around $310 billion, with Tether and Circle retaining all yields from the Treasury bonds backing USDT and USDC, respectively.
Mysten Labs is positioning Sui’s native stablecoin, the Sui Dollar (USDsui), as a direct challenge to that model.
USDsui launched on Sui’s mainnet on March 4 and is issued by Bridge, a stablecoin infrastructure firm acquired by Stripe in 2025.
Abiodun said income generated by the bonds and liquid assets backing USDsui will be deployed to repurchase SUI tokens and remove them from circulation, and to fund DeFi protocols and automated market-making to incentivise on-chain activity.
The payment’s long-term ambition
Beyond the stablecoin launch, Mysten Labs is pursuing a broader payments goal to enable stablecoin transfers free and private at the protocol level.
Abiodun has announced plans to evolve Sui into a unified developer platform by 2026, with protocol-level transaction privacy and the goal of making stablecoin transfers free of gas fees.
“Finance should no longer be constrained by geography or time. It should always be on and programmable,” Abiodun said. “Building the rails for money to move as freely as digital messages is Sui’s core goal.”