Sui Logs $65B in Gasless Stablecoin Transfers

Sui’s blockchain processed nearly $65 billion in fee-free stablecoin transactions between June 10 and the present after Mysten Labs implemented protocol-level gasless transfers in May. The change lets users move stablecoins on-chain without paying fees in the native SUI token.

Mysten Labs removed the requirement that users hold and spend SUI to send stablecoins. Under the protocol update, the network absorbs gas costs for stablecoin transfers, allowing businesses and retail users to execute zero-fee transfers on Sui.

Blockchain security firm Certik reported the nearly $65 billion figure and said Sui recorded more than $2.27 trillion in stablecoin volume on the network since early 2024. Certik did not disclose a breakdown of which stablecoins or counterparties made up the volumes.

The protocol change is designed for high throughput and low latency to support high-volume payment flows. Mysten Labs has positioned Sui to serve business-to-business payments and microtransactions as well as ordinary retail transfers by reducing friction caused by native-token gas requirements.

Sui is testing privacy features on its developer network that would allow private transactions with controlled visibility for compliance and auditing. The proposed mechanism would keep transfer amounts and balances hidden from outside observers while permitting selective disclosure to regulators or auditors when required. Mysten Labs plans to introduce the privacy controls in a future release.

Adeniyi Abiodun, co-founder and chief product officer at Mysten Labs, described the protocol update as removing “HUGE overhead that blocks adoption.” He said gas obligations force service providers to hold reserves, build payment logic and monitor separate balances just to move stablecoins.