MeshWallet Secures $10M to Expand Gasless USDT Wallet on TRON

MeshWallet, a TRON-based wallet provider, has secured $10 million in funding to expand its gasless USDT wallet and develop new services for self-custodial payments. The private funding round was led by a group of investors and small family offices.

The company's focus is on eliminating the need for users to hold TRX when sending USDT over the TRON network. Under standard procedures, wallets require sufficient network resources or TRX to cover transaction costs, but MeshWallet settles fees using USDT instead.

This approach allows senders to manage transfers without maintaining a separate balance of TRX. The company is targeting a market where TRON has become one of the largest settlement networks for Tether's USDT, processing $2.1 trillion in USDT transfers during the second quarter of 2023.