Share this article
'Gasless' Technical Update Brings USDC One Step Closer to Venmo
Users do not have to pre-fund their USDC-bearing wallet with ether before every transaction, according to Centre.
Updated Feb 16, 2022, 7:30 p.m. Published Aug 27, 2020, 6:22 p.m.
You can now send cryptodollars back and forth without paying a fee to the Ethereum network, according to the Centre Consortium in a Thursday blog post.
- Dubbed USDC 2.0, USD Coin (USDC) has integrated what are called "meta transactions" natively to the dollar stablecoin platform. Now, users do not have to pre-fund their USDC-bearing wallets with ether in order to send a transaction.
- Meta transactions allow USDC wallets and compatible applications to act as virtual "gas stations" by paying the associated mining fee that accompanies every Ethereum blockchain transaction.
- "This [update] enables people to fund their non-custodial wallets with USDC and start using DeFi/dapps without also having to own ETH," Coinbase developer Peter Jihoon Kim told CoinDesk.
- The update is backwards-compatible, meaning old USDC clients can continue using the network without upgrading.
- Centre also released a new on-chain signature schematic to help govern the project as new partners join the Coinbase– and Circle-founded project.
- USDC is the second-largest stablecoin by market cap at $1.4 billion.
Read more: Circle Gets $25M From DCG to Drive USDC Mainstream
STORY CONTINUES BELOW
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Ripple Expands $1.3B RLUSD Stablecoin to Ethereum L2s via Wormhole in Multichain Push
Ripple said it's testing its U.S. dollar stablecoin on Optimism, Base, Ink and Unichain with more blockchains to be added next year pending regulatory review.
What to know:
- Ripple is expanding Ripple USD (RLUSD) to Ethereum layer-2 blockchains, including Optimism and Coinbase's Base.
- The firm has tapped Wormhole’s native token transfer standard to enable native cross-chain movement.
- The expansion begins with a test phase and awaits regulatory approval from the New York Department of Financial Services (NYDFS) for a public rollout next year.
Top Stories
