- Plasma will launch its new stablecoin-focused blockchain mainnet beta on September 25.
- The project aims to serve regions with unstable local currencies and plans for broader adoption in developed markets.
- Users have already committed $2 billion in stablecoins, making Plasma the tenth-largest blockchain by stablecoin deposits at launch.
- Plasma will offer zero-fee transfers for USDT, the largest stablecoin managed by Tether, a related company to Plasma’s creator Bitfinex.
- The stablecoin payments sector is growing, with other companies like Stripe, Paradigm, and Circle launching similar blockchains.
Plasma, a new network focused on stablecoins, will launch the beta version of its mainnet on September 25. The network is designed to help users in areas affected by unstable national currencies access and use digital dollars more easily.
The project reports $2 billion in committed stablecoin deposits, placing Plasma among the top ten blockchains for stablecoin holdings when it begins operations. According to founder and CEO Paul Faecks, “Our initial emphasis is on markets where access to dollars is limited and demand for price-stable value is high, since the utility is most immediate there.” The platform will not charge fees for USDT transfers, which is expected to attract new users.
Plasma is entering a competitive environment. Other companies — including Stripe and Paradigm with their Tempo blockchain, and Circle with its upcoming Arc blockchain — are also launching stablecoin-focused networks. These projects will compete alongside established platforms like Tron and Polygon, both of which process stablecoin payments.
The rising interest in stablecoins follows forecasts from U.S. Treasury Secretary Scott Bessent, who recently estimated the market could reach $2 trillion in coming years. Recent U.S. legislation and major business investments have also driven the rapid expansion of this market.
Plasma is partnering with firms targeting new users, such as African payments provider Yellow Card and Turkish Lira stablecoin issuer BiLira. The network will also serve existing crypto users through partners like EtherFi and Maple Finance, offering USDT borrowing and deep liquidity.
The beta phase will allow Plasma to test security, performance, and integrations with real activity. Users can make transfers and use decentralised finance (DeFi) tools during this period. Faecks said, “We will exit beta once predefined benchmarks for security, reliability and decentralisation are met.”
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