Mysten Labs Co-Founder Announces Zero-Fee Transfers on Sui Network

ChainCatcher reports live: Adeniyi Abiodun, Co-founder and Chief Product Officer of Mysten Labs, delivered a keynote speech at the 2026 Hong Kong Web3 Carnival. He stated that the core team members originated from Facebook, where they were responsible for launching the global payment network Libra, with the goal of making fund transfers as simple as sending a message. He announced that Sui will become the first high-speed blockchain to eliminate transaction fees entirely across the network—whether transferring amounts ranging from $0.0005 to $1 billion, no fees will apply, covering all major stablecoins including USDC, USDT, and Sui Dollar. On privacy, Sui will offer bank-grade on-chain privacy, leveraging advanced cryptography to ensure transaction histories and balances remain invisible to third parties, while remaining fully compliant with regulatory requirements. Regarding yields, he introduced the Sui Dollar, developed in partnership with Stripe, which generates approximately 3.5% in returns that are directly reinvested into the network ecosystem and users—not intermediaries. He also unveiled Hashi, a Bitcoin DeFi protocol designed for institutions, enabling sovereign wealth funds, hedge funds, and ETF holders to deploy Bitcoin into DeFi to earn yields without triggering taxable events—a solution backed by legal opinion from top U.S. law firm Fenwick & West. Additionally, Sui’s on-chain deep order book, DeepBook, enables large-volume trades with minimal slippage, facilitating instant on-chain exchanges between assets such as BTC, gold, USD, and EUR. In the realm of AI agent economies, he noted that Stripe estimates future systems will require processing capacity of one billion transactions per second. Sui employs a horizontal scaling architecture identical to that of Google Search and Facebook infrastructure, enabling scalable throughput to millions or even tens of millions of TPS as needed. Sui’s full-stack atomic composability is its core differentiator, allowing agents to execute multiple cross-application transactions simultaneously and settle them in a single atomic operation—an capability unavailable on AWS, Google, or any existing Web3 platform. He also announced a partnership with RedotPay, enabling users to spend Sui Dollars at over 130 million merchants worldwide, positioning Sui as a viable alternative to SWIFT.