Company
Date Published
Author
Nicolas Wu
Word count
913
Language
English
Hacker News points
None

Summary

Circle Internet Financial has launched Circle Paymaster, a new permissionless product that simplifies stablecoin payments by enabling users to pay gas fees using USDC instead of native tokens like ETH, thereby reducing transaction friction. Available on Arbitrum and Base, Paymaster allows developers to integrate this functionality into their apps, offering users a seamless transaction experience without the need to manage multiple cryptocurrencies. This innovation addresses common challenges such as regulatory uncertainty and transaction failures due to insufficient native tokens. Paymaster operates by receiving USDC from users, handling the native token payment to the blockchain, and completing the transaction in USDC, with plans to expand support to additional blockchains like Ethereum and Solana. Circle also offers an alternative, Gas Station, through Circle Programmable Wallets, where developers can sponsor gas fees for users, creating a fully gasless experience. Paymaster charges users a 10% fee on gas costs, though this fee is waived until June 30, 2025, to encourage adoption.