Share this article
Plasma to Launch Mainnet Beta Blockchain for Stablecoins Next Week
The team claims that the network will debut with more than $2 billion in stablecoin liquidity.
Sep 18, 2025, 4:08 p.m.
Make us preferred on Google
What to know:
- Plasma, a new blockchain built specifically for stablecoins, is set to flip the switch on its long-awaited mainnet beta next week, introducing the chain and its native token, XPL, on Sept. 25.
- According to a blog post from the team, the network will debut with more than $2 billion in stablecoin liquidity from over a hundred partners on day one — an aggressive attempt to position Plasma not as just another general-purpose chain, but as the backbone for stablecoin transfers.
Plasma, a new blockchain built specifically for stablecoins, is set to flip the switch on its long-awaited mainnet beta next week, introducing the chain and its native token, XPL, on Sept. 25.
STORY CONTINUES BELOW
According to a blog post from the team, the network will debut with more than $2 billion in stablecoin liquidity from over a hundred partners on day one — an aggressive attempt to position Plasma not as just another general-purpose chain, but as the backbone for stablecoin transfers.
That won’t be an easy feat. Ethereum and Solana already dominate stablecoin volumes, while newer chains continue to optimize for similar flows. Plasma’s bet is that its architecture, dubbed PlasmaBFT, will give it an edge. The system is designed for fast, composable stablecoin transactions the team said, and from launch, users will be able to move USDT with zero fees through Plasma’s dashboard — a feature the team hopes will stand out in a crowded DeFi landscape.
Token distribution is also aimed at broad accessibility. Prior to launch, 10% of XPL was sold in a public offering. At launch, 25 million tokens will be allocated to the community, with another 2.5 million reserved for members of the so-called Stablecoin Collective.
Backing the project are heavyweights from the crypto and venture worlds: the $24 million in seed and Series A funding was led by Framework Ventures, with participation from Bitfinex, Peter Thiel and Tether CEO Paolo Ardoino, among others.
“Plasma’s mission is to become the foundation for global money movement. Mainnet beta is the next step in making that vision real,” the team wrote.
Read more: Peter Thiel-Backed Plasma Raises $20M to Develop Bitcoin-Based Network for Stablecoins
More For You
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
What to know:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
More For You
Peter Thiel and Galaxy-backed Citrea wants to turn idle bitcoin into a high-speed bank account
Founders Fund and Galaxy-backed Citrea is aiming to unlock Bitcoin-denominated credit markets with a new mainnet and a Treasury-backed stablecoin designed for USD settlement.
What to know:
- Citrea has debuted its mainnet, enabling Bitcoin-backed lending, trading and structured products directly tied to the Bitcoin network.
- The platform introduced ctUSD, a Treasury-backed stablecoin issued by MoonPay and designed to align with forthcoming U.S. stablecoin rules.
- Citrea says the rollout aims to mobilize idle BTC and provide an institutional-grade settlement layer for Bitcoin-based capital markets.
Top Stories
