Bitget Wallet integrates stablecoin payments for gas fees across major blockchains, using EIP-7702 to simplify Web3 transactions and user experience.
Bitget Wallet recently announced a major update for traders. With the wallet new feature, users can pay transaction fees on the network using stablecoins. This important functionality applies an Ethereum Improvement Proposal (EIP). Therefore, this change significantly helps to reduce the friction for all the wallet users. The feature is an important component of its “gas abstraction” initiative.
EIP-7702 Integration Eliminates Native Token Requirement
The wallet service can now be used for making gas payments with stablecoins. Specifically, payments are accepted in USDT, USDC or BGB stablecoins. Furthermore, this benefit is extended across eight major networks. These include: Ethereum, Solana, Base, and TRON. Moreover, there is Polygon, Arbitrum, BNB Chain, and Optimism are included in this service. This overall massive support makes cross-chain transactions much easier.
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In fact, this core capability is powered by the EIP-7702 technology. As a result, the Ethereum proposal functions change the account function temporarily. It enables an Externally Owned Account (EOA), which can have the functionality of a smart contract wallet. Therefore, the address will receive advanced capabilities immediately. These have important features, such as transaction batching and gas fee sponsorship.
Traditionally, a standard web3 transaction involved the use of native tokens. For instance, an Ethereum network transaction requires holding Ether (ETH). Likewise, to make a transaction on the BNB Chain, it was necessary to hold BNB. This added a lot of complexity for a lot of users. Furthermore, it led to a barrier for newbies in the crypto space.
In effect, with the new feature of the wallet, this barrier is completely removed. Thus, it makes the whole transaction process extremely easy for all users. To start off, the service is accessible on EVM-compatible chains. Subsequently, it is also available on non-EVM chains such as Solana and TRON.
Stablecoin Gas Payments Bridge Centralized and Decentralized Worlds
For this reason, users no longer have to deal with multiple native gas tokens. This is the case for each different blockchain network they use. Therefore, the integration of stablecoin payment makes the whole user experience dramatically better. In fact, this function for self-custody seems now simpler and faster. It is very similar to the ease of a centralized exchange.
Furthermore, this strategic move is a significant and major competitive development. Therefore, it puts Bitget Wallet in a highly competitive position. In particular, it poses a challenge to wallets such as MetaMask and OKX Wallet. These industry rivals are also actively looking into similar methods of gas abstraction.
The value was confirmed by Jamie Elkaleh, Chief Marketing Officer at Bitget Wallet. He stated the bridge the gap between different services. Moreover, he said it is much easier to experience self-custody. Users can transact across multiple chains without any hassle. As such, they never have to manually deal with separate gas tokens.
In the end, this innovation is an important step for Web3 adoption. On the other hand, it leads to more network security and stability. Therefore, the technology promotes more regular user transaction activity. Therefore, the simplified process should increase the volume of transactions. This important update is a firm value proposition for the wallet. Finally, this feature contributes to democratizing access to the decentralized economy.
