Plasma Raises $24M Led By Framework and Bitfinex/USD₮0 to Build the Leading Blockchain for Stablecoins

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Stablecoins have emerged as one of crypto’s most critical use cases, redefining global money movement by enabling near-instant, low-cost, 24/7 global, and permissionless payments while providing access to leading fiat currencies like the US dollar.

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Over the last few months, we have seen unprecedented levels of excitement about the vertical, both from traditional financial institutions and the public sector, including the White House. Consider Stripe’s $1.1 billion acquisition of Bridge, US President Donald Trump’s executive order to promote the development of dollar-backed stablecoins, US Senator Hagerty’s new stablecoin bill, and Crypto Czar David Sacks’ endorsement of stablecoins as a primary driver for US dollar dominance with the potential to generate trillions of dollars in demand for US treasuries. 

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Yet, despite this explosion of interest and growth, the stablecoin market faces a major obstacle: legacy blockchains limit the rate of adoption. Most blockchains were designed long before stablecoins gained traction—or even existed. Today, stablecoins have over $220 billion in supply, and trillions of dollars are transferred monthly. However, this activity currently settles on blockchains with obstacles like high transaction fees, centralization issues, high transaction failure rates, and a lack of specialized features that are required to support stablecoins from first principles. Plasma has been built to solve all of these challenges.

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Plasma is the purpose-built blockchain that will drive global stablecoin adoption to the next level and unlock trillions of dollars onchain. Engineered from the ground up to address the unique needs of stablecoins, Plasma provides a scalable, efficient, and secure foundation for the next generation of money movement. 

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Plasma is a high-performance Layer 1 purpose-built for stablecoin payments, pairing a Fast HotStuff-derived PlasmaBFT consensus with a Reth-based EVM execution layer for sub-second finality and fee-free USD₮ transfers. This design gives developers Ethereum-grade familiarity and high throughput, tailored for global, low-friction money movement.

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Plasma is uniquely positioned in the market, and we aim to capture the trillion-dollar stablecoin opportunity starting with USD₮, issued by Tether. USD₮ is the largest stablecoin worldwide and commands nearly a 70% market share. Backed by Bitfinex and USD₮0, Plasma enables zero-fee USD₮ transfers, making it the most efficient and scalable blockchain for stablecoin payments available today.

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“With strong growth in both supply and users, we are entering a new phase of mainstream adoption for stablecoins. To meet this challenge, it’s more important than ever to have secure, decentralized, and scalable infrastructure in place. Plasma is designed to provide these essential rails by leveraging Bitcoin as its security layer.” — Paolo  Ardoino, CTO at Bitfinex

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This $24M raise is not just a financial milestone—it’s a strong vote of confidence in a future powered by stablecoins. As we accelerate the development of our testnet as well as mainnet and expand our ecosystem to support payments, remittances, DeFi, and personal financial solutions, we remain committed to unlocking the full potential of stablecoins.

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Whether you’re a developer eager to build new payment applications and infrastructure or a community member passionate about the future of stablecoins and digital money, we invite you to get involved with what we’re doing at Plasma. Your support and participation are key as we work together to build the infrastructure that will redefine how money moves. Stay tuned for more updates as we continue our journey to power the future of stablecoin payments.