USDsui, issued by Bridge (Stripe), is a U.S. dollar-referenced stablecoin natively issued on the Sui Layer 1 blockchain and included in the network's allowlisted set of gasless-transfer stablecoins [S1].

USDsui references the U.S. dollar (USD) and is one of seven stablecoins named by the Sui network alongside its issuer, Bridge (Stripe), in the protocol gasless-transfer allowlist [S1]. The token holds a stable USD value rather than accruing yield to holders, since the Sui network itself provides no yield on stablecoins and any reserve economics rest with the issuer [S2][S1]. Mint, redeem, and management fees are determined by Bridge (Stripe) [S1].

USDsui is issued by Bridge (Stripe), an independent third party, and is not issued by the Sui network, which positions itself as infrastructure for third-party issuers and states that it does not itself issue stablecoins or financial products [S2][S1]. On the Sui network, the token can be implemented as a regulated Move currency carrying deny-list controls, where the bearer of a DenyCapV2 capability may add or remove addresses from a system-held deny list and trigger an optional global pause, controls described as appropriate for stablecoins [S3][S4].

USDsui is implemented as a Sui Move fungible coin under the Sui Currency Standard, created via a One-Time Witness and finalized through coin registry registration, with regulated currencies adding deny-list capabilities [S3][S4]. It is natively issued on the Sui Layer 1 network, which provides settlement with roughly 300ms time to finality and parallel object-level execution [S5].

<Sources
  retrievedAt="2026-06-22"
  items={[
    { id: "S1", url: "https://docs.sui.io/develop/transaction-payment/gasless-stablecoin-transfers" },
    { id: "S2", url: "https://www.sui.io/" },
    { id: "S3", url: "https://docs.sui.io/standards/currency" },
    { id: "S4", url: "https://docs.sui.io/guides/developer/stablecoins" },
    { id: "S5", url: "https://www.sui.io/payments" },
  ]}
/>


# Asset redemptions methodology

## 1. Overview

The total value of tokenized assets that are burned or returned to issuer-controlled addresses in exchange for offchain collateral assets is measured by the asset redemptions metric. User demand to exit asset positions and reclaim backing collateral is reflected by this metric. Daily redemption volumes are aggregated across all supported blockchains and converted to USD using end-of-day price feeds. A comprehensive view of capital outflows from tokenized assets is provided by this metric.

## 2. Data sources

- **EVM chain events**: ERC-20 token transfers, covering EVM-compatible chains (Ethereum, Arbitrum, Base, Polygon, Optimism, and others)
- **Solana instructions**: SPL token burn instructions and balance changes
- **Non-EVM chain events**: Native token burn events, transaction net flows, and asset pallet events covering Algorand, Cardano, Injective, Near, Polkadot Asset Hub, Ripple, Stacks, Stellar, and Sui
- **Asset metadata**: Token addresses and decimal precision
- **External data**: End-of-day price feeds

## 3. Step-by-step calculation

### Component A: Extract raw redemption and burn events

- **Purpose**: Token destruction or return to issuer custody across all supported blockchains is identified.
- **Logic**: On EVM-compatible chains, ERC-20 `Transfer` events are parsed where the recipient is the zero address or the dead address. On Solana, SPL token `Burn` instructions are parsed. On Algorand, token transfers to non-circulating configuration addresses (such as creator or reserve addresses) are extracted. On Cardano, negative token deltas are derived from transaction outputs and inputs. On Injective, token transfers with a burn event type are selected. On Near, token burn events are extracted. On Polkadot Asset Hub, `Burned` events from the assets pallet are parsed. On Ripple, transaction net flows that result in issuer inflows are identified. On Stacks, token transfers where the recipient address is null are parsed. On Stellar, SEP-41 `sep41_burn` events are extracted. On Sui, negative deltas are derived from total supply changes of treasury control objects.
- **Key fields**: `timestamp` (event time), `token_address` (asset contract address), `amount` (raw quantity)

### Component B: Apply premint corrections

- **Purpose**: Raw burn volumes are adjusted to exclude non-circulating token movements and include circulation exits.
- **Logic**: For supported assets, raw burn volumes are adjusted by subtracting preburns and adding premint redemptions. Preburns, which represent tokens burned directly from issuer-controlled premint addresses without ever entering circulation, are subtracted from the total. Premint redemptions, which represent transfers from circulating addresses back into premint addresses, are added to the total as they represent assets exiting active circulation.
- **Key fields**: `timestamp` (event time), `token_address` (asset contract address), `amount` (corrected quantity)

### Component C: Normalization and USD conversion

- **Purpose**: Token quantities are normalized by decimal precision and converted to USD.
- **Logic**: Daily token-denominated redemption amounts are aggregated by timestamp, chain, and token address. These amounts are normalized by decimal precision retrieved from token metadata. The normalized redemption amounts are then multiplied by end-of-day price feeds sourced from market data providers to calculate the final USD-denominated redemption value. If no redemptions occur on a given day, the daily value is filled with zero values.
- **Key fields**: `timestamp` (day), `chain_id` (blockchain identifier), `token_address` (asset contract address), `amount` (normalized token quantity), `price_usd` (asset price), `value` (USD-denominated redemption value)

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Value of assets redeemed or burned for underlying collateral.

Asset redemptions

Stablecoins

Bridge holds and manages the fiat reserves backing the stablecoins it issues and handles minting, redemption, and compliance for its partners.

Bridge is a stablecoin issuance and payments platform (acquired by Stripe in 2025) that lets companies launch fiat-backed stablecoins through APIs. It issues USDsui, Sui's native USD stablecoin, through its Open Issuance platform.

Bridge (a Stripe company) is a stablecoin platform that issues and manages fiat-backed stablecoins on behalf of partners. On Sui it issues USDsui, the network's native USD-pegged stablecoin, via its Open Issuance product.

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Stablecoin issuers

Bridge

Sui Dollar (USDsui) is a U.S. dollar stablecoin issued by Bridge through Bridge Building Inc.

Each token is redeemable one-for-one for U.S. dollars and is a direct claim on the issuer.

Reserves are held in cash, Treasury bills, and money market funds, in accounts segregated from the issuer's own funds.

Retail investors and institutions can mint and redeem directly with Bridge in USD, and holders have a contractual right to redeem at par.

Bridge Building Inc. holds U.S. state money transmitter licences.

Holder terms are governed by the law of New York in the United States.

USDsui has been issued on Sui as a Sui coin token since February 2026.

Sui DollarUSDsui