Plasma raises $24 million to build a dedicated blockchain for stablecoins

Plasma, a blockchain dedicated to stablecoins, has successfully raised $24 million in seed and Series A funding rounds.

The $4 million seed round was led by Bitfinex, Tether CEO Paolo Ardoino, Peter Thiel, Cobie and Zaheer Ebtikar from Split Capital. The $20 million Series A round was led by Framework Ventures and Bitfinex/USD₮0, with other investors including DRW/Cumberland, Bybit, Flow Traders, 6th Man Ventures, IMC, Nomura and Karatage.

This capital will be used by Plasma to develop testnet, mainnet and expand payment solutions, remittances, DeFi and personal finance tools, to optimize stablecoin user experience.

Stablecoins are playing an increasingly important role in the blockchain ecosystem, with a total supply exceeding $224 billion and transaction volume in the trillions of dollars per month. However, current blockchains such as Ethereum, Tron, and Solana are not specifically designed for stablecoins, leading to high transaction fees and network congestion.

Plasma was created to address these limitations, providing a stable, low-cost infrastructure that better supports the issuance and trading of stablecoins.

Plasma’s fundraising comes amid growing interest in stablecoins from governments and financial institutions. Stripe recently spent $1.1 billion to acquire Bridge, a stablecoin payments startup. US President Donald Trump has also signed an executive order promoting stablecoins pegged to the US dollar, and his crypto and AI policy advisor David Sacks has said stablecoins are a tool to maintain the US dollar’s ​​global dominance.

With the support of leading investors and strategic vision, Plasma aims to become the leading blockchain platform for stablecoins, meeting the growing demand for stable and efficient digital asset trading.