🚀🚀Justin Sun Plans Free Stablecoin Transfers 🚀🚀

Justin Sun announced his intention to create a new stablecoin on the X platform that will enable users to transfer stablecoins without paying 'gas fees'. Sun emphasized that stablecoins will “fully cover gas fees.”

According to Justin Sun's statement, the stablecoin will first be available on the Tron blockchain and will later expand to all Ethereum and Ethereum Virtual Machine (EVM) compatible blockchains.

"We want to launch this service in the fourth quarter of the year. I believe that similar services will significantly help large companies implement stablecoin services on the blockchain, thereby increasing the mass adoption of the blockchain to an unprecedented level," said Justin Sun, stating these goals in his post on the X platform.

Justin Sun did not provide technical details on how free transfers would be achieved. However, this development may be designed to compete with similar offerings such as PayPal's PYUSD. PYUSD allows US-based users to convert stablecoin to USD and make unlimited free cross-border payments around the world. If Justin Sun is successful, the stablecoin conversion step may not be necessary.

Similarly, USDC transfers via Coinbase Wallet via the Ethereum Layer 2 blockchain Base are currently free. This has led to a significant increase in the use of stablecoins on the network. Coinbase is likely subsidizing transactions rather than covering the fees for stablecoins themselves, as Justin Sun explained.

While USDC issuers like Circle and Binance have stopped supporting Tron, this gives Justin Sun another incentive for a successful native stablecoin on his network.