Mysten Labs sets payment goals as Sui eyes SWIFT replacement
CIE News ·
Mysten Labs co-founder Adeniyi Abiodun outlined goals for Sui to act as global payment infrastructure and replace SWIFT after the network processed over $1 trillion in stablecoin volume.
Mysten Labs co-founder Adeniyi Abiodun stated in an interview published by Wu Blockchain on October 5, 2026, that Sui aims to serve as global payment infrastructure rather than solely a Layer 1 blockchain. Reported by crypto.news, Abiodun said the network's multi-year objective is to replace SWIFT through cross-border settlements and transactions for artificial intelligence agents.
The strategic focus follows a disclosure by the Sui Foundation that the network surpassed $1 trillion in cumulative stablecoin transaction volume since August 2025. Sui also supports gasless peer-to-peer transfers for eligible stablecoins, including USDsui, USDC, SuiUSDe, AUSD, FDUSD, USDB, and USDY.
Following the roadmap discussion, CoinGecko data cited by crypto.news showed SUI rose 4.43% to trade near $1.23 with roughly $878 million in 24-hour volume. Crypto analyst Ali Martinez noted on October 2 that an hourly close above $1.27 could indicate another breakout for the token.