Hong Kong-based crypto payment firm RedotPay has announced the integration of SUI and native USDC on its platform, further expanding its global crypto payment ecosystem. The upgrade allows users to conduct transactions in over 100 countries using RedotPay's cards and payment services, significantly enhancing cross-border payment convenience and asset diversity.
Integration Details: From Cross-Chain to Native Support
This integration leverages the Sui network, developed by Mysten Labs, marking a shift from cross-chain asset support to native asset support. Native USDC means users can directly use Circle's original stablecoin without bridges or wrapped tokens, reducing transaction complexity and potential risks. Additionally, the addition of SUI tokens provides users with more asset options, enriching payment scenarios.
Platform Metrics: 7M Users, $10B Annualized Volume
RedotPay's official data shows the platform now has over 7 million registered users, with annualized payment volume exceeding $10 billion. This scale stems from RedotPay's continuous efforts in crypto payments—from initial digital currency card services to supporting multi-chain native assets and covering over 100 countries for both offline and online payments. The newly integrated SUI and USDC are expected to attract users seeking high-performance blockchains and stablecoins.
Market Impact: SUI and USDC Prices Show Minor Fluctuations
Following the announcement, the SUI token price edged up +0.40%, while USDC remained nearly flat (-0.01%), reflecting a neutral to slightly positive short-term market reaction. From a broader perspective, RedotPay's expansion aligns with industry trends—more payment platforms are supporting native stablecoins and emerging blockchain assets to reduce friction and improve transaction efficiency.
Industry Context: Zero-Gas Transfers and Privacy Advances
Notably, the Sui network has recently achieved significant progress in zero-gas transfers and default privacy protection, providing better infrastructure for payment applications like RedotPay. Relevant developments include Sui mainnet launching gasless transfers and Circle's USDC on-chain volume surging 263% in Q1. By integrating native USDC and SUI at this juncture, RedotPay is poised to leverage ecosystem maturity for dual growth in users and transaction volume.
Overall, with the integration of SUI and native USDC, RedotPay is building stronger network effects in the crypto payment space. For cardholders, multi-currency support means more flexible spending options; for the ecosystem, this move drives the adoption of SUI and USDC in real-world payments.