Sui network is reducing stablecoin gas fees.
Sui has officially announced that it will be significantly reducing native gas fees for users making stablecoin transfers on the network. Launched as part of a new product Address Balances, this will also see a partnership with infrastructure provider Fireblocks.
This will be available for select stablecoins to begin with, including popular options on the network such as USDC, FDUSD, AUSD, USDB, as well as native versions USDsui and SuiUSDe stablecoins.
Stablecoins volume on Sui is at $500M+ with USDC taking about 68% of the share per DefiLlama.
It remains to be seen if there are balance limits over the course of time, but nonetheless this is a development for the Sui ecosystem and its users, as well as wallet partners who will be implementing the update.
