Key Highlights
- Kraken and Bullish now offer trading for Sui Dollar ($USDsui), a stablecoin operating on the Sui Network.
- The Sui Network has processed more than $1 trillion in stablecoin transfer volume, according to the information accompanying the listing.
- Stablecoin transfers on Sui carry zero network fees, supporting low-cost on-chain transactions.
Crypto exchanges Kraken and Bullish have made the Sui Dollar ($USDsui) available for trading on their platforms. The stablecoin operates on the Sui Network.
According to the official update posted on X on Monday, the listing provides access to a stablecoin on a network that has recorded more than $1 trillion in stablecoin transfer volume. Stablecoin transfers on the Sui Network carry zero network fees.
Sui Dollar is now tradable on both Kraken, operated by Payward, and Bullish. The additions expand the number of platforms offering the token.
No further details were provided on trading pairs, liquidity levels, or specific launch dates beyond the statement that the token is now available.
Related developments at Payward
Last month, Payward, the parent company of Kraken, filed to offer single-stock perpetual futures to U.S. traders through the Kraken platform. The initial lineup consists of contracts tied to 10 U.S. equities: Tesla (TSLA), SPCX, Nvidia (NVDA), Broadcom (AVGO), Micron Technology (MU), Apple (AAPL), Microsoft (MSFT), Amazon (AMZN), Alphabet (GOOGL), and Palantir (PLTR).
In a post on X, Payward stated it is working toward 24/5 trading hours. The stated objective is to enable traders to respond to market-moving events outside traditional stock-market trading sessions.
Separately, on September 16, Payward said it plans to deploy on-chain perpetual futures markets on Hyperliquid for eligible United States clients. The initiative would use a permissioned extension of the decentralized platform’s builder-deployed contract framework.
The company did not announce a launch date. A spokesperson declined to comment on timing or on any discussions with regulators. Contracts, if approved, would be listed under the rules of a CFTC-regulated exchange. Payward’s statement indicates the on-chain perpetual futures would be listed under the rules of Bitnomial Exchange, LLC, subject to regulatory approval. The statement confirms earlier reporting published by Bloomberg on August 31.
That report said the two sides were structuring a U.S. route through Payward’s CFTC-licensed subsidiary Bitnomial.
Context on the platforms and network
Kraken operates as a cryptocurrency exchange under Payward. Bullish is a separate trading platform that has also listed the Sui Dollar. The Sui Network supports the stablecoin, with the reported transfer volume exceeding $1 trillion and zero network fees applying to stablecoin transfers on that chain.
No additional information was released regarding volumes expected from the new listings, comparisons to other stablecoins, or regulatory status specific to the Sui Dollar on the two platforms.
The filings and statements concerning perpetual futures remain subject to regulatory processes, with no approved launch timelines disclosed.
The Sui Dollar listing and the futures-related filings represent separate actions by the involved companies. Payward’s statements on the futures products reference compliance with existing regulatory frameworks through Bitnomial where applicable.
Also Read: Ethereum Holds 53% of $349B Onchain Tokenized Asset and Stablecoin Market
