Nimiq adds support for gas-abstracted USDC transactions on Polygon

Nimiq is set to roll out gas-abstracted USDC transactions on Polygon, which will be incorporated into its native wallet. The new feature will make it easier and more feasible for merchants to accept crypto, avoiding the typical volatility.

The Blockchain ecosystem Nimiq is among the first to incorporate this type of integration, and it has the potential to increase the accessibility of cryptocurrency payments, particularly for individuals new to the crypto space.

The new feature incorporated into Nimiq’s non-custodial wallet will also enable USDC transfers to take place without the requirement for MATIC to cover charges and/or the necessity of holding an additional token to cover gas expenses. In addition to aiding web3 onboarding, this feature saves users from needing to hold a secondary token at all times to cover gas.

With gas abstraction, users can pay network fees with any token they hold, even if they don’t have the specific token required for the transaction. For instance, a user with only USDC in their wallet can still transfer the token using gas abstraction. The relayer converts a fraction of the USDC into the required token, such as MATIC, pays the transaction fee on behalf of the user, and sends the transaction to the network.

Nimiq Wallet has implemented gas-abstracted transactions powered by open GSN, making it one of the first self-custodial wallets to do so. This combination provides an ideal experience for merchants starting with crypto using stablecoins, especially on Polygon due to its low fees and speed. Nimiq’s goal is to make crypto payments accessible to everyone, and gas abstraction with USDC is a significant step toward that goal.

In a statement, Nimiq Ambassador Max Burger said: “We want to make crypto payments accessible to everyone. Adding gas-abstracted USDC transactions to our wallet is a big step towards that goal. Merchants can get started with crypto using an asset that’s very close to what they already know. As they become more knowledgeable, our wallet provides a path to discover the wider world of crypto with features like atomic swaps and a crypto map.”

Nimiq Wallet supports atomic swaps between USDC, BTC, and NIM, as well as a crypto map to help users find merchants accepting cryptocurrency. Additionally, it offers Cryptopayment.link, a free point-of-sale solution for merchants.

Nimiq is a blockchain ecosystem for payments. It’s designed to make cryptocurrencies easy to use for everyone without compromising decentralization. Nimiq is building a self-custodial financial ecosystem including a digital currency, fast payments, cheap remittances, and passive income available to everyone. Gas-abstracted USDC transactions are available in the latest release of the Nimiq Wallet.