Solid-state transformers (SSTs) are a promising solution for photovoltaic (PV), wind, traction, data center, battery energy storage system (BESS), and fast charging electric vehicle (EV) applications. Traditional SSTs are typically three-stage, i.e., hard-switching cascaded multilevel rectifiers and inverters with dual active bridge (DAB) converters, which leads to bulky passives, low efficiency, and high EMI. This paper proposes a new soft-switching solid-state transformer (S4T). The S4T has fullrange zero-voltage switching (ZVS), electrolytic capacitor-less dclink, and controlled dv/dt which reduces EMI. The S4T comprises two reverse-blocking current-source inverter (CSI) bridges, auxiliary branches for ZVS, and transformer magnetizing inductor as reduced dc-link with 60% ripple. Compared to the prior S4T, an effective change on the leakage inductance diode is made to reduce the number of the devices on the main power path by 20% for significant conduction loss saving and retain the same functionality of damping the resonance between the leakage and resonant capacitors and recycling trapped leakage energy. The conduction loss saving is crucial, being the dominating loss mechanism in SSTs. Importantly, the proposed single-stage SST not only holds the potential for high power density and high efficiency, but also has full functionality, e.g., multiport DC loads integration, voltage regulation, reactive power compensation, unlike traditional single-stage matrix SST. The S4T can achieve single-stage isolated bidirectional DC-DC, AC-DC, DC-AC, or AC-AC conversion. It can also be configured input-series outputparallel (ISOP) in a modular way for medium-voltage (MV) grids. Hence, the S4T is a promising candidate of the SST. The full functionality, e.g., voltage buck-boost, multiport, etc. and the universality of the S4T for DC-DC, DC-AC, and AC-AC conversion are verified through simulations and experiments of two-port and three-port MV prototypes based on 3.3 kV SiC MOSFETs in DC-DC, DC-AC, and AC-AC modes at 2 kV.