BenFen‘s mainnet upgrade to version v1.24.1 on August 18, 2025, marks a significant advancement in stablecoin blockchain technology. Developed by Bixin Ventures, the upgrade focuses on enhancing transaction efficiency, cross-chain functionality, and user experience.
A key feature is the introduction of stablecoin-as-gas. Users can now pay transaction fees using widely adopted stablecoins like USDC and USDT, eliminating the need for native tokens. This simplifies the user experience and broadens accessibility.
Another innovation is gasless transactions, also known as sponsored transactions. This allows developers to cover transaction fees for their users, creating a seamless experience akin to traditional Web2 applications. This is particularly beneficial for new users and applications requiring frictionless interaction.
The upgrade also includes improvements to the Move Virtual Machine and network execution engine. These enhancements enable tens of thousands of transactions per second with sub-second finality, catering to high-frequency payment and settlement needs.
BenFen now supports cross-chain circulation of major assets across numerous blockchains including BTC, ETH, BSC, Polygon, Solana, Tron, Optimism, Arbitrum, Avalanche, and Base. This expanded interoperability significantly increases the utility of the platform.
Furthermore, BenFen integrates zkLogin, allowing users to create wallets easily using existing social media accounts, reducing the technical barrier to entry. A reserve pool and a native decentralized exchange (DEX) ensure robust liquidity and stability for payments and DeFi activity.
The BenFen ecosystem’s core application, BenPay, offers a range of features. These include on/off-ramp integration for stablecoin payments, a peer-to-peer (P2P) stablecoin marketplace, a decentralized exchange, lending and borrowing markets, and on-chain red envelope capabilities. Future BenPay plans include a multi-chain asset management protocol, offering users cross-chain stablecoin swaps, BUSD conversion and deployment, and access to high-yield pools.
Bixin Ventures, a leading blockchain investment and incubation platform, provided BenFen with $10 million in funding and continues to serve as a strategic advisor. This backing has been instrumental in BenFen‘s development and growth.
The elimination of gas fees as a barrier to entry, coupled with the ease of use provided by stablecoin payments and gasless transactions, positions BenFen as a significant player in the stablecoin blockchain space. The platform aims to be the foundational layer for a stablecoin-driven digital economy, supporting diverse applications from DeFi protocols to cross-border payments.
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