NEAR Protocol Launches Universal Send for Cross-Chain Payments

NEAR Protocol has launched its Universal Send feature, which enables users to send tokens across supported blockchains in a single transaction. This new feature combines bridging, swapping, and settlement, making cross-chain payments simpler and more private.

The feature uses NEAR Intents' intent-based execution layer, which has processed over $18 billion in cumulative volume. Users can scan a QR code, choose a token, and confirm payment, while the system handles conversion and routing.

NEAR's Universal Send model relies on competing third-party 'solvers' to carry out user-defined intents and finalize transactions on-chain. This approach is different from traditional bridging methods and offers improved privacy compared to single-chain confidential systems like Zcash.