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Empowering Merchants: Circle's Web3 Wallet Upgrade Allows Gas Fee Payment for Customers

Oct 24, 2023 at 08:39 am

The super-app Grab, which operates in Southeast Asia, is currently testing a novel feature that covers the gas fees for its Singaporean users when they utilize NFT vouchers.

Circle Internet Financial, the issuer of the USDC stablecoin, has unveiled an upgrade for its Web3 programmable cryptocurrency wallet. This update enables merchants to take charge of and pay for their customers' transaction fees.

In a press release, Circle introduced the Gas Station feature, which empowers businesses to sponsor users' gas fees, the costs associated with money transfers on blockchain networks, through the utilization of the ERC-4337 paymaster.

The Gas Station feature initially went live on the Polygon (MATIC) mainnet and testnet, as well as the Ethereum (ETH) testnet. Circle plans to expand its availability to additional blockchain networks in the future.

For instance, Southeast Asian super-app Grab is currently experimenting with the Gas Station feature, offering a gas-free experience to its Singaporean users who use non-fungible token (NFT) vouchers from Grab's Web3 wallet to earn rewards, according to the press release.

Furthermore, Circle introduced its Smart Contract Platform on the same day. This platform is designed to assist developers in building applications more rapidly by providing a comprehensive solution for importing, exploring, deploying, and managing smart contracts. The platform's APIs are currently accessible on Avalanche (AVAX), Ethereum, and Polygon.

Gagan Mac, the Head of Product for Web3 Services at Circle, stated:

"We're reducing friction and making blockchain transactions more accessible to everyone. 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." 

This initiative aims to simplify blockchain transactions and promote their accessibility for all users.

The Smart Contract Platform offered by Circle

The Smart Contract Platform offered by Circle

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