BNB Chain Announces Plans to Collaborate With Centralized Exchanges to Ensure Users Can Make Fee-Free Stablecoin Deposits

BNB Chain (formerly known as Binance Smart Chain) is working on a new feature that would enable gasless stablecoin transfers across centralized exchanges

BNB Chain, formerly known as Binance Smart Chain, is set to launch a new feature that will allow users to make gasless stablecoin transfers across major centralized exchanges.

The new feature, which is set to launch at the end of September, will initially support major stablecoins such as Tether (USDT), USD Coin (USDC), and First Digital USD (FDUSD). The transfers will be facilitated through partnerships with several centralized exchanges, including Binance, Bitget, Gate.io, HTX (formerly Huobi), and MEXC.

According to a press release shared with crypto.news on Sept. 18, the gas fees for the stablecoin transfers will be covered by MegaFuel, a gasless solution developed by infrastructure provider NodeReal and backed by BNB Chain. Gasless transactions to the exchanges will also be supported via wallet providers such as Bitget Wallet and SafePal, with Binance Web3 Wallet and Trust Wallet to follow.

BNB Chain is also working with cross-bridge providers such as Celer to enable gas-free cross-chain transfers, simplifying asset movement across different blockchains. However, it remains unclear whether BNB Chain is in talks with other cross-chain providers about this initiative.

In addition to wallets, BNB Chain is also collaborating with payment gateways such as Alchemy Pay, Oobit, Lunu, MugglePay, and Now Payment to integrate crypto “into everyday transactions.” It is yet to be seen whether stablecoin payments via these providers will be limited to specific purchases.

BNB Chain says the collaborations will facilitate “real-life payments, allowing users to make everyday purchases, like buying a coffee, with stablecoins, making cryptocurrency transactions more practical and affordable.”

To boost user activity, BNB Chain will be launching a “Gasless Carnival Season” on Sept. 19, offering “zero withdrawal fees on stablecoins from participating centralized exchanges to BSC and opBNB, covering gas fees for transfers via participating wallets, and sponsoring gas-free cross-chain transfers via participating bridges.”

The above is the detailed content of BNB Chain Announces Plans to Collaborate With Centralized Exchanges to Ensure Users Can Make Fee-Free Stablecoin Deposits. For more information, please follow other related articles on the PHP Chinese website!