BNB Chain is betting big on stablecoins as the key enabler for mainstreaming crypto. The blockchain platform revealed that the company is working to provide stablecoin payment infrastructure throughout its ecosystem.
As stated in the official blog post, BNB Chain’s mission is to become the leading place for stablecoins’ transactional activities and real-world applications. The network invites wallets, payment systems, and merchants to partner in this endeavor.
The blockchain community believes in stablecoins’ utility for decentralized finance, interchange, and everyday payments beyond price speculation.
Current Status of BNB Chain’s Stablecoin Ecosystem
The BNB Chain is the third-largest stablecoin ecosystem with close to $5 billion in stablecoin market cap. Approximately, there are 19 million users present on BNB Chain using stablecoins for DeFi and centralized finance applications.
As for the first and most obvious adoption tactic, BNB Chain places a greater focus on facilitating a good user experience for stablecoin holders. It offers some of the lowest stablecoin withdrawal fees in the industry. Additionally, offers a number of protocols and solutions to grant gasless transactions.
For example, BNB Chain has partnered with the majority of well-known wallets and companies and released new tools. Like the gasless app MegaFuel, which was developed to allow various apps to pay for users’ gas. Furthermore, BNB Chain does not limit its support to just one or two stablecoins. It will offers a wide variety of choices, supporting, for example, USDT, USDC, and FDUSD.
The push for real-world utility is a key part of BNB Chain’s mission to onboard the next billion users to Web3. By making stablecoins more accessible and useful for everyday transactions, BNB Chain aims to position itself at the forefront of the digital payments revolution.
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