In the future, widespread adoption of stablecoins will bring more internet users into the Web3 world. Currently, Web3 users are only about 10% of internet users, indicating significant growth potential.

Since 2024, the stablecoin market cap on the Sui chain has achieved explosive growth, increasing nearly 200 times in a year, with the compliant stablecoin USDC being the main driving force, dominating 75% of the Sui stablecoin ecosystem.



Why is there a reason for a curve-over-taking?
1. The Sui project originated from Facebook's stablecoin team.
Core members of the Sui team come from Facebook (Meta) Diem/Libra stablecoin project. They have transformed Facebook's technological advantages, such as smart contract languages (Move) and high-performance parallel processing, into Sui's underlying architecture. At that time, the Diem/Libra stablecoin project had been developed, but was halted due to regulatory issues. Now, with Circle's listing leading to a relaxation of regulation in the crypto industry, Sui has unique advantages in global compliance funding, institutional collaboration, and stablecoin expansion.

2. Circle holds the most SUI and is a Sui investor.
Circle is not only the issuer of USDC but also one of the early important investors in Sui. According to Circle's 2024 IPO prospectus, SUI holds the largest share in their cryptocurrency holdings, amounting to 9.48 million USD. Circle has invested in DeFi, payment-related infrastructure, and many high-performance public chains, but the only public chain that emerged is Sui, suggesting deeper collaboration between the two.

3. Technical advantages for stablecoin circulation.
Advantages of the MOVE language in security: designed specifically for digital asset management, it features a resource-oriented programming model. High throughput in parallel transaction processing: VISA and Mastercard handle over 5,000 transactions per second, while Sui can process 100,000 transactions per second.
zklogin connects Web2 users: no need to create a wallet, allowing users to log in through social methods like Google and Facebook.
Extremely low and stable transaction fees: due to the high throughput architecture, gas fees can remain stable even during peak times.

4. Sui's stablecoin market cap is 1.1 billion USD, the fastest growing.

At the beginning of 2024, the stablecoin market cap on Sui was only 5 million USD, growing more than 200 times in just over a year. Currently, the stablecoin market cap is 1.1 billion USD, with a growth rate of 82% over two months, and a total locked value of 1.75 billion USD. Since February 2025, it has developed rapidly, mainly driven by USDC, which accounts for up to 75%. Currently, USDT has not yet been natively issued on the Sui chain. Other native stablecoins include mainstream stablecoins like AUSD, FDUSD, and USDY.

5. Comparison of Sui and SOL stablecoin data
Total stablecoin market cap comparison: Sui 1.1 billion USD, SOL 11.2 billion USD.
Total market cap of native tokens: Sui 12.3 billion USD, SOL 92 billion USD.
Total locked value: Sui 2.3 billion USD, SOL 10 billion USD.

Sui has just surpassed Solana in stablecoin transfer data, but the stablecoin issuance volume between the two differs by nearly 10 times, indicating that stablecoins are more active on Sui. With the increase in issuance scale, there will be greater adoption.

Transaction performance comparison

Sui's opportunity for curve-over-taking in payments.
Sui's opportunity lies in leveraging its unique advantages to create new battlegrounds rather than engaging in homogeneous competition in the existing market. Its growth rate is rapid, but there remains a 10-fold gap in scale.


In terms of payment experience, it has a significant advantage in user experience with high concurrency, sub-second confirmation, and seamless access to Web2 social networks.

With the relaxation of regulations following Circle's listing, there is more room for development. The SEC has officially accepted the application for the Nasdaq 21Shares listing of the SUI ETF. Circle has spent nearly 1 billion USD on marketing expenses on Coinbase and Binance. In addition to continuing to expand on exchanges, it can also choose to operate on public chains, where 100 million USD in marketing expenses can lead to tens of billions in scale growth.

More high-frequency application scenarios, such as the partnership between Sui and xMoney and xPortal to launch a Mastercard, a new type of stablecoin Game Dollar for the in-game ecosystem, etc., address the financial friction existing in traditional payments (such as regional restrictions and high fees) by using blockchain technology to achieve borderless payments and a better experience.