Crypto Billionaire Justin Sun Teases Gas-Free Stablecoin Launch by Year’s End
Crypto billionaire Justin Sun has announced plans to launch a gas-free stablecoin by the end of the year.
The Tron founder aims to develop a solution that enables peer-to-peer transfers without the need for gas tokens, making transactions completely free for users.
While the exact mechanics of the stablecoin solution have not been disclosed, Sun intends to integrate it on the Tron blockchain in the fourth quarter, he said in a recent post on X.
“Our team is developing a new solution that enables gas-free stablecoin transfers,” he wrote.
“In other words, transfers can be made without paying any gas tokens, with the fees being entirely covered by the stablecoins themselves.”
Following the Tron implementation, he plans to expand its availability to Ethereum and other Ethereum Virtual Machine-compatible public chains.
Sun believes that gas-free stablecoins have the potential to revolutionize the way companies offer stablecoin services.
By covering the transaction fees with the stablecoins themselves, he envisions a more accessible and widespread adoption of blockchain technology.
We anticipate launching this service in Q4 of this year. I believe that similar services will greatly facilitate large companies in deploying stablecoin services on the blockchain, elevating blockchain mass adoption to a new level.
— H.E. Justin Sun 孙宇晨 (@justinsuntron) July 6, 2024
Tron currently dominates the peer-to-peer stablecoin transfer market, processing two to three times more volume than its closest competitor, Ethereum.
The introduction of Tron’s gas-free stablecoin solution could provide competition for existing offerings such as PayPal’s PYUSD, which enables certain US users to make cross-border payments without fees.
Additionally, Circle’s USD
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