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February 13, 2026.
Plasma, a platform specializing in stablecoin infrastructure, has raised $24 million in a combined Seed and Series A funding round.
The investment, led by Framework Ventures, will support the creation of a dedicated blockchain aimed at improving stablecoin interoperability and issuance.
Notable backers include PayPal co-founder Peter Thiel and Tether CEO Paolo Ardoino, underscoring the project's potential to address key challenges in the stablecoin sector.
Key Takeaways
- Funding Composition: $24 million across Seed and Series A stages, led by Framework Ventures and Bitfinex/USD₮0, with support from Peter Thiel and Paolo Ardoino.
- Technical Specifications: Bitcoin-secured Layer 1 blockchain with zero-fee USDT support, sub-second finality, and EVM compatibility for stablecoin operations.
- Market Relevance: Designed to handle over $1 trillion in on-chain stablecoin value, supporting payments, DeFi, and remittances.
- Development Roadmap: Testnet operational; mainnet upgrades targeted for Q2 2026 to drive ecosystem integration.
- Competitive Positioning: Resolves inefficiencies on networks like Ethereum and Solana, establishing Plasma as a leader in stablecoin infrastructure.
Stablecoins, such as USDT, have become integral to decentralized finance (DeFi), remittances, and cross-border payments, with the market exceeding $150 billion in circulation.
However, existing blockchains often face limitations including elevated transaction fees, prolonged settlement times, and scalability constraints.
Plasma's proposed Layer 1 network seeks to mitigate these issues by offering a specialized environment for stablecoin operations, featuring zero-fee transfers and sub-second finality.
Funding Details and Investor Participation
The round builds on an earlier $4 million seed investment from participants including Bitfinex and Ardoino.
Framework Ventures, a firm with investments in projects like Chainlink, led the latest tranche, joined by Bitfinex/USD₮0, Tether's issuance entity.
Additional institutional investors include DRW/Cumberland, Bybit, Flow Traders, 6th Man Ventures, IMC Trading, and Nomura's Karatage. Prominent individuals such as Thiel, crypto analyst Cobie, and Plasma advisor Zaheer Ebtikar also contributed.
Plasma co-founder Paul Faecks commented, "This funding affirms our commitment to establishing a stablecoin-native ecosystem. We are developing infrastructure that combines the efficiency of traditional finance with the transparency and security of blockchain technology."
Founded in 2024, Plasma initially concentrated on stablecoin yield strategies and cross-chain bridging solutions. The new funding accelerates development of its blockchain, a Bitcoin-secured sidechain leveraging Reth-based Ethereum Virtual Machine (EVM) compatibility and a proprietary PlasmaBFT consensus mechanism for enhanced throughput.
Core capabilities encompass fee-free USDT transactions, intents-based bridging for interoperability, and security rooted in Bitcoin's proof-of-work model.
The testnet went live in late 2025, with mainnet enhancements scheduled for the second quarter of 2026 to facilitate scalable stablecoin issuance and transfers.
Initial partnerships, such as with NEAR Protocol for high-volume payment processing, highlight applications in remittances and merchant settlements.
Ardoino, representing Tether's dominant 70% market share in stablecoins, stated, "Plasma utilizes Bitcoin's robust security framework to deliver decentralized and scalable infrastructure for stablecoins, which is critical for broader adoption."
Framework Ventures' Vance Spencer added, "Stablecoins represent a foundational application for blockchain. Plasma addresses essential infrastructure deficiencies in this space."
Conclusion
With stablecoins serving as a vital link between traditional and digital finance, Plasma's $24 million funding round reflects growing institutional confidence in specialized blockchain solutions.
The platform's focus on a tailored network not only optimizes operational efficiency but also enables developers to innovate in financial applications.
Supported by influential investors, Plasma is well-positioned to contribute to the expansion of global payments, delivering reliability, security, and scalability.
Read Next:
- Virtual Assets Service Providers Explained
- Omnichain Stablecoins Explained
- What Are USDC Gateway Wallets?
FAQs:
1. What is Plasma?
Plasma is a platform dedicated to stablecoin infrastructure, developing a blockchain optimized for issuance, transfers, and interoperability of assets like USDT.
2. Who participated in Plasma's $24 million funding round?
The round was led by Framework Ventures and Bitfinex/USD₮0, with investments from Peter Thiel, Paolo Ardoino, DRW/Cumberland, and Bybit.
3. What is the timeline for Plasma's mainnet?
The testnet launched in 2025; mainnet upgrades are anticipated in Q2 2026.
4. Why develop a dedicated blockchain for stablecoins?
It addresses challenges such as high fees and latency on general-purpose chains, providing zero-fee USDT transactions and Bitcoin-anchored security.
5. What advantages does Plasma offer to users?
It facilitates rapid, cost-effective global payments, DeFi opportunities, and remittances through an EVM-compatible, stablecoin-centric network.
Disclaimer:
This content is provided for informational and educational purposes only and does not constitute financial, investment, legal, or tax advice; no material herein should be interpreted as a recommendation, endorsement, or solicitation to buy or sell any financial instrument, and readers should conduct their own independent research or consult a qualified professional.
