BNB Chain, a community-driven blockchain ecosystem with the world’s largest smart contract blockchain, has announced more upgrades to become the primary infrastructure for stablecoin payments and digital financial transactions.
This move is part of BNB Chain’s larger plan to bridge the gap between Web2 and Web3, making cryptocurrencies as useful for everyday transactions as traditional money and reaffirming its commitment to onboarding the next billion Web3 users.
BNB Chain aims to make stablecoin payments faster
According to reports, BNB Chain aims to make stablecoin payments faster, cheaper, and more accessible to users by focusing on gasless transactions between centralized exchanges (CEXs), wallets, and bridges.
By design, gas-free transfers between USDT, USDC, and FDUSD will be offered through partnerships with crypto-leading payment firms. BNB Chain encourages wallet providers, payment gateways, and merchants to help shape the future of the stablecoin infrastructure.
BNB Chain is set to collaborate with centralized exchanges to ensure users can fully take advantage of fee-free transfers and maximize their savings on every transaction. The Binance arm will partner with Binance CEX, Bitget, Gate.io, HTX, and MEXC.
In addition, MegaFuel, an innovative global gasless solution developed by NodeReal and funded by BNB Chain, will cover gas prices for CEX users, wallets, and decentralized applications (Dapps).
Also, the chain has partnered with well-known wallet providers such as Bitget Wallet and SafePal, with Binance Web3 Wallet and Trust Wallet coming soon, to offer customers with seamless, low-fee stablecoin transactions.
The entity aims to enhance liquidity and interoperability by working with top bridge providers such as Celer. This will enable zero-fee transfers and increased liquidity, facilitating asset movement across different blockchains.
BNB Chain is working with payment gateways such as Alchemy Pay, Oobit, Luna, MugglePay, and Now Payment to integrate Bitcoin into regular transactions. These collaborations will make real-world payments easier and more affordable by allowing users to pay for everyday products, such as coffee, with stablecoins.
As a way to improve its stablecoin infrastructure, the entity will start the “Gasless Carnival Season” on September 19, 2024. As part of this effort, there will be no fees for withdrawing stablecoins from participating CEXs to BSC and opBNB. Also, gas fees for transfers through participating wallets will be covered, and cross-chain transfers will be free of charge through participating bridges.
