Justin Sun, founder of Tron, announced on July 6 that his team is developing gas-free peer-to-peer (P2P) stablecoin transfers, aiming for a Q4 2024 launch. This feature will first be available on the Tron blockchain, followed by Ethereum and other EVM-compatible networks.
Gasless transfers mean users won’t need to pay gas fees, as these will be covered by the stablecoins themselves. This innovation could drive mass adoption of stablecoins, especially by large companies deploying blockchain services. Tron has seen consistent growth in stablecoin metrics, with its circulating supply reaching an all-time high of $60 billion, and P2P transfers on Tron are two to three times those on Ethereum.
This new feature positions Tron as a strong contender against PayPal’s PYUSD and Circle’s USDC. Additionally, Tron plans to develop a Bitcoin layer 2 network supporting a wrapped version of Tether, potentially inviting millions into the Bitcoin ecosystem. The strategic move could significantly elevate blockchain adoption and payment systems.
