Plasma launches ‘first stablecoin chain’ mainnet with $2b in USD₮0 liquidity
Plasma launched its Layer-1 mainnet, purpose-built for stablecoins, with $2 billion in USD₮0 liquidity already on-chain.
- Plasma launched its layer 1 mainnet, built specifically for stablecoin transfers
- The network will have $ billion in Tether’s cross-chain USD₮0 stablecoin on launch
- Peter Thiel’s Founders Fund is among Plasma’s backers
Stablecoins are quickly growing into one of the most compelling use cases for crypto. On Thursday, Sept. 25, Plasma, a layer-1 blockchain purpose-built for stablecoins, launched its mainnet with $2 billion in USD₮0 liquidity live from day one.
Marketed as the world’s first “stablecoin chain,” Plasma received backing from both Tether’s ecosystem and Peter Thiel’s Founders Fund. As a result, Tether’s omnichain stablecoins USD₮0 and XAU₮0, powered by LayerZero, are available on Plasma immediately at launch.
Plasma to take on stablecoin settlement
Unlike general-purpose networks, where stablecoin transfers compete with DeFi and smart contracts, Plasma focuses specifically on stablecoin settlement. The network leverages PlasmaBFT, a consensus mechanism with sub-second finality, deterministic confirmation times, and low fees. According to the network, these features remain robust even during peak times.
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