Sui Dollar (USDSUI) is a fiat-backed US dollar stablecoin. It has about $80.0M in circulation, ranking #57 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
What is USDSUI?
Sui Dollar (USDSUI) is a fiat-backed US dollar stablecoin. It has about $80.0M in circulation, ranking #57 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
In the issuer's words: Sui Dollar (USDsui) is designed to be a foundational digital dollar on Sui.
USDSUI supply history
USDSUI supply grew 8.0% over the past 30 days, to $80.0M. It is at or near its all-time high.
Is USDSUI holding its peg?
USDSUI is trading within 0.5% of its target, which is normal for a healthy stablecoin.
Where USDSUI lives: supply by blockchain
Supply is concentrated: Sui holds 100% of all USDSUI. Moving it to another chain means bridging, or a mint and redeem through the issuer.
How USDSUI is backed
Each USDSUI is meant to be redeemable for one unit of its reference currency, backed by reserves such as bank deposits and short-term government debt held by the issuer or its custodians.
Minting and redemption: USDsui is minted when a user deposits USD through Bridge's API, the funds are held in cash and Treasury reserves, and an equivalent amount of USDsui is issued on Sui. Redeeming is the reverse: the tokens are burned on-chain and the user receives USD back. Both operations are 1:1 and handled entirely through Bridge (a Stripe company).
USDSUI risks
Your claim is on the issuer and the banks or funds holding its reserves. A failure or freeze there can break the peg, as USDC briefly did in March 2023.
Fiat-backed issuers can usually freeze tokens at specific addresses, for example to comply with sanctions or court orders.
Rules such as the US GENIUS Act and the EU's MiCA can restrict which stablecoins exchanges list in a given country.
USDSUI vs USDT and USDC
Similar fiat-backed stablecoins
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USDSUI FAQ
What is USDSUI?
Sui Dollar (USDSUI) is a fiat-backed US dollar stablecoin. It has about $80.0M in circulation, ranking #57 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
Is USDSUI pegged 1:1 to the US dollar?
USDSUI targets 1 USD. At the last update it traded at $0.9993, a deviation of -0.07%, which we classify as "on peg".
What backs USDSUI?
USDSUI is a fiat-backed stablecoin. Each USDSUI is meant to be redeemable for one unit of its reference currency, backed by reserves such as bank deposits and short-term government debt held by the issuer or its custodians.
Which blockchains is USDSUI on?
USDSUI is live on 1 blockchain. The largest by supply are Sui ($80.0M).
How much USDSUI is in circulation?
About $80.0M of USDSUI was in circulation at the last update, +8.0% over 30 days. That makes it the #57 stablecoin by supply among those we track.
Is USDSUI safe?
No stablecoin is risk-free. As a fiat-backed design, USDSUI's main risks are reliance on the issuer and its banks or custodians, how transparent the reserves are, the issuer's ability to freeze tokens, and regulatory action. It currently shows "on peg" on our peg monitor. This page is information, not investment advice.