The Sui network has processed over $1 trillion in stablecoin volume since August, according to Mysten Labs co-founder Adeniyi Abiodun. In an interview with The Block at Consensus 2026, Abiodun said the milestone supports his vision of Sui becoming the “default network for how you move money.” He pointed to the blockchain’s planned zero-fee stablecoin transfers and private payments as key steps toward that goal.
Origins in the Libra and Diem projects
Abiodun linked Sui’s ambitions to the original goals of Meta’s Libra and Diem projects, where many Mysten Labs team members previously worked. He criticized legacy banking costs by example, noting a $100 cross-border transfer to Nigeria can carry $35 in fees. Consumer expectations for financial privacy are also changing, he argued. Users, he said, should not have their “bank accounts look like Twitter,” referring to the transparent nature of existing public blockchains.
Agentic workflows as the killer use case
On automated payments, Abiodun said more than 80% of internet traffic is already driven by automated systems, based on his time at Facebook. He predicted money movement will follow that pattern and called agentic workflows crypto’s killer use case. Users should not be able to distinguish between human and AI agents onchain, he added. Sui’s storage layer lets users bundle encrypted intent with transactions, which could support future chargeback and fraud-resolution mechanisms when agents make mistakes.
Post-quantum security and network issues
Sui is testing post-quantum signatures on its testnet, targeting a rollout before anticipated EU quantum-resistance mandates in 2030. Abiodun offered to coordinate with the Bitcoin ecosystem and open-source Mysten’s quantum research. He predicted Bitcoin would address the threat “very slowly and non-committally” despite trillions at risk.
The network has faced technical problems. In January 2026, the Sui mainnet stalled for hours due to an internal validator consensus divergence. A similar outage in November 2024, lasting about three hours, was caused by a bug in transaction scheduling logic that triggered a validator crash loop.
Token performance and developer activity
Despite a 200% surge in developer activity, which Abiodun credits to “capabilities competitors can’t match” like onchain market-making and atomic multi-transaction submits, the native token $SUI has struggled. It trades near $0.99, down nearly 3% in the last 24 hours and roughly 81% below its all-time high of $5.35 set in January 2025.
The Block’s full interview with Adeniyi Abiodun is expected to be published later today.
