Circle Internet Financial Releases Upgrade to Web3 Wallet, Allowing Merchants to Sponsor Users’ Gas Fees

Merchants Can Now Cover Customers' Gas Fees with Web3 Wallet Upgrade

Circle enables merchants to cover customers’ gas fees with Web3 wallet upgrade.

In a surprising twist, Circle Internet Financial, the stablecoin issuer behind USDC, has unveiled a new upgrade for its Web3 programmable crypto wallet. This upgrade gives merchants the power to take over and pay for their customers’ transaction fees. Yes, you heard it right – merchants are now donning superhero capes and swooping in to save the day, sparing their customers the burden of gas fees on blockchains.

This revolutionary function, aptly named Gas Station, taps into the ERC-4337 paymaster and enables businesses to sponsor their users’ gas fees. Imagine it as a fancy fuel station, where businesses generously cover the cost of moving money on blockchains. And the best part? The function is not confined to a single blockchain; it has conquered Polygon (MATIC) mainnet and testnet, as well as Ethereum (ETH) testnet, with plans for further expansion to other blockchains.

But hold on – there’s more to this story. Grab, the beloved Southeast Asian super-app, has also hopped on the Gas Station bandwagon. They are currently testing this function to reward their Singaporean users with a gas-free experience. By utilizing non-fungible token (NFT) vouchers from Grab’s Web3 wallet, users can earn rewards without worrying about gas fees. Talk about a smooth and fuel-efficient ride!

In addition to this game-changing upgrade, Circle Internet Financial has also introduced its Smart Contract Platform. This platform aims to speed up the development of applications by offering a convenient “one-stop shop” for importing, exploring, deploying, and managing smart contracts. Picture it as a developer’s dream toolbox, filled with all the necessary tools to effortlessly navigate the world of smart contracts. Currently, the platform’s APIs are available on Avalanche (AVAX), Ethereum, and Polygon.

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Gagan Mac, the head of product for Web3 services at Circle, couldn’t contain his excitement. “We’re reducing friction and making blockchain transactions more accessible to everyone,” he exclaimed. “With the launch of Gas Station, we are abstracting away blockchain transaction fees for end users, and Smart Contract Platform makes it easier for businesses to leverage the benefits of blockchain networks.” Truly, Gagan and his team are creating a world where blockchain transactions are smoother than a well-oiled machine.

So, dear digital asset investors, fasten your seatbelts and get ready for a gas-free journey through the world of crypto transactions. Thanks to Circle Internet Financial and its innovative upgrades, you can now cruise the blockchain highway without worrying about the toll fees. It’s time to say goodbye to the mundane and embrace a future where merchants bear the burden of gas fees, making our lives easier and our wallets heavier.

Read more: Circle Seeks to Make Crypto Payments Easier With New ‘Programmable Wallets’

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