Sui Processes $65B in Fee-Free Stablecoin Transactions Since June 10

According to blockchain security firm CertiK, Sui network processed nearly $65 billion in fee-free stablecoin transactions since June 10, following Mysten Labs' May protocol upgrade that eliminated gas fees for stablecoin transfers. The upgrade allows users to transfer stablecoins on-chain without holding the native SUI token to pay transaction fees.

Since the beginning of 2024, Sui has handled more than $2.27 trillion in stablecoin transaction volume. Mysten Labs leadership views the gasless model as critical for enterprise adoption, arguing that even minimal transaction costs create operational burdens requiring organizations to maintain token reserves and develop payment management systems. The network is also developing private transaction capabilities combining confidential transfers with controlled visibility for compliance.