Tron founder Justin Sun announced in a post on X over the weekend that his team is developing a stable currency that allows users to transfer money without paying gas fees.

Tron will issue native stablecoin

Justin Sun said that the stablecoin will be launched on the Tron blockchain in the fourth quarter, and users can transfer funds without paying gas fees. Other EVM-compatible blockchains and Ethereum will follow. .

We expect to launch this service in the fourth quarter of this year. I believe similar services will greatly facilitate large companies deploying stablecoin services on the blockchain, taking blockchain mass adoption to the next level.

However, Sun Ge did not disclose any technical details.

Stablecoin market faces challenges

There have been many changes in the stablecoin market recently. With the official entry into force of MiCA regulations, Circle became the first MiCA-compliant stablecoin issuer and officially opened its USDC and EURC services to European commercial customers. MiCA regulations stipulate that only electronic money institutions (EMIs) and credit institutions can issue stablecoins.

Circle announced as early as February 21 that it plans to stop supporting its U.S. dollar stablecoin (USDC) on the TRON blockchain, saying that this action is Circle’s effort to ensure that USDC remains a transparent, trustworthy, and secure digital dollar. Binance also stopped supporting deposits and withdrawals on the Tron blockchain in April.

(Will USDT lose a large market? EU MiCA new stablecoin regulations are about to take effect: How does Binance ensure compliance)

In addition to large stablecoin issuers moving towards compliance, some new stablecoins have also appeared in the market, such as aUSD₮, a gold-collateralized stablecoin launched by Arthur Hayes that does not need to rely on traditional finance, USDe and Tether, and Paxos. A profitable stablecoin USDL is also issued, and the reserve income will be automatically distributed to the wallet every day. All issuers are trying their best to gain a place in the stablecoin pie.

And is the TRON blockchain founded by Justin Sun forced to find another way to issue its own stable currency due to the withdrawal of USDC, and what is the principle of its stable currency? Let us wait and see!

This article Justin Sun: Tron will issue native stablecoins, and users will not need to pay gas fees for transfers first appeared on Chain News ABMedia.