Justin Sun to Launch Gasless Stablecoin on Tron by Year-End, Ethereum, EVM Chains Also to be Launched

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Founder Justin Sun has announced plans to build a stablecoin that users can transfer back and forth on X without paying gas fees. Instead, according to Sun, gas fees would be “… borne entirely by the stablecoin itself.”

According to Sun’s post, the stablecoin will first launch on the Tron blockchain and eventually expand to all blockchains compatible with Ethereum and the Ethereum Virtual Machine (EVM).

“We expect to launch this service in Q4 of this year. I believe that similar services will greatly help large enterprises deploy stablecoin services on blockchain, and will bring blockchain mass adoption to a new level,” Sun wrote in his X post.

Sun did not share additional technical details about how it would transmit energy without gas.

The stablecoin could compete with similar products, including PayPal’s PYUSD, which allows US users to exchange the stablecoin for USD and then send cross-border payments around the world without fees. However, there would have to be an intermediate step to exchange the stablecoin, which Sun tokens, if successful, would likely eliminate.

Likewise, USDC transfers on the Ethereum Layer 2 blockchain Base via Coinbase Wallet are currently free, which has led to a dramatic increase in the stablecoin’s trading volume on the network. In other words, as Sun explains, Coinbase is likely subsidizing transfers rather than implementing a native mechanism to cover the fees in the stablecoin itself.

USDC issuer Circle and exchange Binance have both stopped supporting USDC on Tron, providing further incentive for Sun to successfully launch a native stablecoin on the network.

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