What you really need to know:
- Plasma just bagged $20 million in a Series A round led by Framework Ventures, following their cozy little $4 million seed round with a star-studded lineup including Peter Thiel and Bitfinex.
- They say their network is like the superhero of stablecoin transactions – zero-fee USDT transfers, built on the ever-so-dramatic Bitcoin blockchain.
- Stablecoins are basically crypto’s new cool kids, growing faster than your mom’s online shopping habits, and they’re here to handle payments and remittances like pros.
Plasma, the crypto start-up trying to make Bitcoin work for stablecoins, just raised a cool $20 million. They’ve got a plan to make everything from testnets to remittances and DeFi apps a reality. Fancy, right?
The fundraising round was led by Framework Ventures (because, of course, they’d be interested). This cash injection will fuel their testnet, mainnet, and dreams of turning stablecoins into a mainstream thing. Not to mention, they’re all in on remittances and payments, which is totally a thing now.
Oh, and did we mention the investors? Peter Thiel, Paolo Ardoino (yeah, the CEO of Tether), and a bunch of other crypto big shots like Cobie and Zaheer Ebtikar. No big deal, just some of the most influential people in crypto throwing their weight around.
Stablecoins are taking over the crypto world like a tidal wave, with over $220 billion in circulation. But while Bitcoin is the old-timer, stablecoin action has been mainly happening on flashier blockchains like Ethereum, Tron, and Solana.
Enter Plasma. Their idea? A Bitcoin sidechain that works like a charm with Ethereum Virtual Machine (EVM) – which is basically the secret sauce behind DeFi. They want to fix the annoyances of current blockchains, like sky-high fees and scalability drama. Oh, and they’re tossing in zero-fee USDT transfers for good measure. Classy!
Paul Faecks, Plasma’s CEO (who probably has his own private jet by now), boldly declared, “Stablecoins are the clear winner in blockchain adoption, yet they’re treated like second-class citizens on current blockchains. Plasma is here to change that. Zero-fee transfers, Bitcoin security, and a blockchain that’s as scalable as my inbox on Monday mornings.”
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2025-02-13 19:07