Solana

2024

PayPal USD

Fuse

Avalanche

Circle, a crypto financial firm, has expanded its Web3 services to support the Solana blockchain, enabling advanced features such as programmable wallets and gas stations to enhance user experience and functionality. 
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 1/ It’s official: Programmable Wallets now supports <a href="https://twitter.com/solana?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@solana</a>!<a href="https://twitter.com/hashtag/Devs?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Devs</a> building on Solana can now embed secure, frictionless wallets tailored to their apps and sponsor transaction fees to streamline user experience. Learn more about the unlocked benefits. <a href="https://t.co/YRj8dqGbW9" target="_blank">https://t.co/YRj8dqGbW9</a>— Circle (@circle) <a href="https://twitter.com/circle/status/1800891292337274955?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">June 12, 2024</a>
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The integration will occur in two phases, with the initial phase focusing on programmable wallets for developers to automate asset management based on predefined rules, while the gas station feature will offer sponsored transaction fees to streamline transaction processes. 
Circle’s subsequent phase includes <a href="https://www.circle.com/blog/empowering-the-solana-ecosystem-circles-web3-services-is-now-available-on-solana" target="_blank" rel="noreferrer noopener nofollow">introducing support</a> for NFTs and program interactions via the Smart Contract Platform, aligning Solana with other prominent Web3-supported blockchains like Ethereum, Polygon, and Avalanche. 
Programmable wallets are a key highlight of this integration, allowing users to configure automatic interactions with smart contracts. This automation eliminates the need for manual execution of tasks, such as executing transactions based on specific conditions. 
Notably, Fuse Wallet also announced its focus on programmability for Solana wallets on June 10. Utilizing smart accounts, Fuse Wallet offers programmability and addresses issues like dependence on seed phrases, limited asset recovery options, and restricted customization of on-chain interaction rules. 
Solana has experienced significant growth and activity in recent months, with a record high of 41.5 million active addresses on its blockchain in May, as reported by Hello Moon. Circle acknowledges this growth within the Solana developer community as a driving force behind its decision to support the blockchain. 
To meet increasing demand, Solana has been preparing for major upgrades, including the upcoming Firedancer upgrade scheduled for 2025. This upgrade aims to enhance scalability and eliminate network downtime, addressing challenges like the recent five-hour outage experienced by Solana. 
Kuleen Nimkar, lead at Solana Foundation’s DePIN, highlighted the focus on launching the Firedancer upgrade, collaborating with Jump Crypto on Solana’s independent validator client development. 
Companies like PayPal have recently supported Solana’s ecosystem for everyday transactions by integrating its stablecoin PayPal USD (PYUSD) on May 29, reflecting the fintech industry’s growing recognition and adoption of Solana. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/06/12/moonpay-enables-paypal-for-crypto-transactions-in-uk-and-eu/" target="_blank" rel="noreferrer noopener">MoonPay Enables PayPal for Crypto Transactions in UK and EU</a> 
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Circle Introduces Programmable Wallets on Solana for Web3

The Crypto Times

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