The company is targeting a market where TRON has become one of the largest settlement networks for Tether’s $USDT. TRON processed $2.1 trillion in $USDT transfers during the second quarter of 2026, crypto.news previously reported, citing Messari data. $USDT supply on the blockchain stood at $87.9 billion at the end of the quarter, accounting for 98.5% of its stablecoin supply.
MeshWallet removes the $TRX requirement for $USDT transfers
MeshWallet said its product was built around TRC20 $USDT transfers, with users able to hold, receive and send the stablecoin without acquiring $TRX specifically to pay transaction fees.
Gasless transactions do not remove the underlying cost of processing a blockchain transaction. Different networks and applications can instead handle transaction fees through mechanisms such as fee delegation, wallet subsidies or protocol level exemptions.
For MeshWallet users, the company handles the process within the wallet while presenting the cost in $USDT. The interface is centered on a limited set of functions, including checking balances and sending or receiving TRC20 $USDT.
MeshWallet said the model is intended for people who make occasional transfers as well as users who move stablecoins frequently for payments, trading or transfers to friends and family.
Businesses are another part of the company’s target market. MeshWallet said using $USDT for both the transfer and transaction cost means companies do not have to maintain a separate $TRX balance solely for network fees.
Accounting can consequently remain centered on one token against a business’s home currency, according to the company. MeshWallet said the setup is designed to reduce administrative work and make onboarding easier for businesses accepting or sending stablecoin payments.
TRON’s existing payment activity gives the wallet a large pool of $USDT transactions to target. The blockchain crossed 15 billion transactions in August, when daily activity was running above 12.5 million transactions.
$USDT recorded 2.55 million transfers worth $28.1 billion on TRON on the day covered by the report. The network held approximately $90.28 billion in $USDT at the time, spread across more than 75.37 million accounts.
Self custody remains part of the MeshWallet model
MeshWallet operates as a self custodial wallet, meaning private keys remain on the user’s device instead of being stored by the company on a centralized server.
The company said its codebase is open source and that two independent security audits are underway. MeshWallet pointed to its Trustpilot presence as another source users can consult when assessing the service.
Self custody has remained central to product development among larger wallet providers as they move into payments, trading and other financial services.
MetaMask, for example, launched Money Account in June as a self custodial stablecoin product combining payments, trading and automated yield through one balance. Supported stablecoins can be converted into mUSD, with users able to opt into a variable yield without moving assets into a separate staking product.
Wallet developers have meanwhile been experimenting with different ways to reduce the number of steps required for onchain activity. For stablecoin payments, network fees remain one of those steps because a user can hold sufficient $USDT for a payment while lacking the native token needed to move it.
MeshWallet is concentrating specifically on that problem within TRON instead of building a wallet around a large number of networks and tokens.
TRON remains a major network for $USDT payments
TRON’s stablecoin activity continued to grow during the second quarter. Messari data showed average daily $USDT transfer volume reached $22.8 billion, up 4.3% from the previous quarter.
The network accounted for 47.6% of tracked $USDT supply at the end of June. TRON’s total stablecoin market capitalization reached a record $89.2 billion during the quarter before $USDT circulation moved above $90 billion in July.
Transaction fees remain part of that activity even when wallet applications make them less visible to end users. TRON generated $699.4 million in network fees during the second quarter, according to Messari, up 15.9% from the previous quarter.
The concentration of $USDT activity has made TRON a common network for direct stablecoin transfers. CoinDesk Research data cited in August found that roughly 93% of the blockchain’s stablecoin transfer volume involved transfers directly between addresses instead of interactions with protocols.
Smaller payments represented a sizeable portion of activity as well. The same research found that TRON handled 52% of transfers below $1,000 across blockchains with native Tether issuance during the second quarter.
MeshWallet funding comes as US crypto rules remain unsettled
MeshWallet announced its funding while U.S. lawmakers continue work on digital asset market structure legislation.
The company’s announcement pointed to President Donald Trump’s backing of the Digital Asset Market Clarity Act and said the proposal could establish a regulated framework for digital assets in the United States.
The legislation has progressed further since some of the procedural steps described in MeshWallet’s announcement, but it has not cleared Congress.
The Senate Banking Committee advanced the CLARITY Act by a 15 to 9 vote in May. A Senate procedural vote on September 15 later failed to reach the 60 votes needed to move the legislation forward, leaving further congressional action unresolved.
Senate Banking Committee Chairman Tim Scott said after the vote that nearly all Senate Republicans had voted to advance the bill and called on the Securities and Exchange Commission and Commodity Futures Trading Commission to establish digital asset rules while Congress continues its legislative work.
MeshWallet said the newly raised capital will be used to continue development and introduce more features to the wallet. The application is currently available through Google’s Play Store and Apple’s App Store.
