Share this article
Developer Six Clovers Rolls Out Cross-Border Crypto Payments on Sui
The Versal Network will allow companies to transact in stablecoins and central bank digital currencies.
Updated Jun 29, 2023, 8:51 p.m. Published Jun 29, 2023, 1:00 p.m.
Six Clovers, a developer of crypto payments systems, has released Versal Network on the Sui blockchain to provide companies with a service that can facilitate cross-border transactions, according to a press release.
The network joins Transak, which allows people to buy the blockchain's SUI token with fiat money, and Halliday HQ on Sui, a layer 1 blockchain founded by ex-Meta Platforms (META) employees and valued at $2 billion in a September funding round. Sui launched its mainnet in May and hit a peak of 1,007 transactions per second (tps) over the past 30 days, according to SuiExplorer data.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Cross-border payments using cryptocurrency has been a hot topic of late, and the Bank for International Settlements and the International Monetary Fund have both tested cross-border transactions of central bank digital currencies (CBDCs) in the past year. Digital payments firm Strike, meanwhile, recently expanded its Lightning Network payments service to Mexico.
"Our vision of unlocking the power of on-chain digital assets for the next billion users is being made possible on Sui," said Jim Nguyen, co-founder and CEO of San Francisco-based Six Clovers. "The way to do this is to close the gap between established e-commerce and Web3 commerce, by abstracting the blockchain and making the infrastructure invisible to customers."
The Versal Network programming hooks (API) give businesses the opportunity to integrate the network into their existing technology stacks, allowing them to transact in stablecoins and central bank digital currencies (CBDCs).
Total value locked (TVL) on the Sui Network remains low at around $11.8 million, according to DefiLlama. In comparison, Optimism, another layer 1 blockchain, has $795 million.
See also: Ex-PayPal Execs Launch Cross-Border Payments Network on Algorand
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Michael Saylor's Strategy Hangs on to Spot in Nasdaq 100 Index
The annual Nasdaq 100 rebalance saw six companies dropped and three new additions, with changes taking effect on December 22, but bitcoin treasury company Strategy hung onto its spot.
What to know:
- Strategy (MSTR) will remain in the Nasdaq 100 index despite a major reshuffle, which saw several household names dropped.
- The firm's business model, which involves stockpiling bitcoin, has drawn criticism from analysts and index providers, with MSCI considering excluding crypto treasury companies from its benchmarks.
- The Nasdaq 100 rebalance saw six companies dropped and three new additions, with changes taking effect on December 22, but Strategy's bitcoin-heavy strategy secured its spot.
Top Stories
