Blockchain network BNB Chain has announced plans to work with centralized exchanges to allow users to deposit stablecoins fee-free.
BNB Chain (formerly known as Binance Smart Chain) is working on a new feature that will enable gasless stablecoin transfers between centralized exchanges, aiming to make digital payments more practical.
In a Sept. 18 press release shared with crypto.news, the BNB Chain team said that at launch, gas-free transfers will support major stablecoins such as Tether (USDT), USD Coin (USDC) and First Digital USD (FDUSD), and will be facilitated through partnerships with centralized exchanges such as Binance, Bitget, Gate.io, HTX (formerly Huobi) and MEXC.
Gas fees will be covered by MegaFuel, a gasless solution developed by infrastructure provider NodeReal and backed by BNB Chain. BNB Chain added that gasless transactions to the exchange will also be supported through wallet providers such as Bitget Wallet and SafePal, with Binance Web3 Wallet and Trust Wallet to follow.
BNB Chain bets on a bright future for stablecoins
In addition to wallets, BNB Chain also works with cross-bridge providers such as Celer to enable gas-free cross-chain transfers, simplifying the movement of assets between different blockchains.
However, it is unclear whether BNB Chain is in discussions with other cross-chain providers about this initiative.
Beyond cryptocurrency transfers, the network is in talks with payment gateways such as Alchemy Pay, Oobit, Lunu, MugglePay and Now Payment to integrate cryptocurrencies into “everyday transactions.” It is not yet clear whether stablecoin payments through these providers will be limited to certain purchases.
BNB Chain said the partnership will “facilitate real-world payments, allowing users to use stablecoins for everyday purchases like buying a coffee, making cryptocurrency transactions more practical and affordable.”
To encourage user activity, BNB Chain will launch a “Gasless Carnival Season” on September 19, offering “zero fees for stablecoin withdrawals 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.”
