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Stablecoins are one of the biggest success stories from the blockchain industry. This blistering growth saw the total supply of stablecoins reach $247 billion as of May 2025, which is nearly 10% of all the US physical currency in circulation.
The stablecoin that currently dominates this sector is Tether’s USDT, which controls 66% of market share. So when a new blockchain that’s purpose-built for stablecoin transactions and backed by Tether announced a $50 million public round, it’s no surprise that the round filled within five minutes.
In this article, we’ll dive into what Plasma is, the founders and investors backing Plasma, how Plasma’s blockchain architecture works and the roadmap of the stablecoin-focused blockchain.
Key Takeaways:
Plasma is a purpose-built Layer 1 blockchain designed to optimize stablecoin transactions with zero-fee USDT transfers and Bitcoin-linked security.
Backed by Tether, Bitfinex, and prominent VCs, Plasma has raised over $75 million to build a high-speed, scalable payment and DeFi network.
With EVM compatibility, a unique vault mechanism and a clear road map, Plasma aims to become the settlement layer of choice for stablecoin-powered finance.