Layer-1 blockchain specializing in stablecoins, Plamsa, secures $373 million in token sale funds.
Headline: Plasma Raises $373 Million in Successful Token Sale, Targeting Global Stablecoin Transfers
Subhead: Bitcoin-based Layer 1 blockchain Plasma has garnered strong investor confidence with a $373 million token sale, focusing on efficient and cost-effective stablecoin transactions.
In a groundbreaking development, Plasma, a Bitcoin-based Layer 1 blockchain, has successfully completed a $373 million token sale in just 10 days. This impressive fundraising round, which took place in July 2025, saw the participation of 3,000 unique wallets, each committing an average of about $83,629.
The token sale, which valued Plasma at around $500 million, featured a 1% sale of Plasma's 1 billion XPL token supply. The success of the sale indicates a high demand for Plasma's low-cost, fast, programmable blockchain designed for global stablecoin transfers.
Background
Plasma is backed by major crypto players including Bitfinex, Tether, and notable investors such as Framework Ventures and Peter Thiel’s Founders Fund. Prior funding rounds include $3.5 million in October 2024 from Bitfinex, Split Capital, and Tether CEO Paolo Ardoino, followed by a $20 million Series A in February 2025 led by Framework Ventures and Founders Fund.
Plasma's architecture is a hybrid combining Bitcoin’s UTXO model with Ethereum Virtual Machine (EVM) compatibility. It acts as a Bitcoin sidechain featuring a trust-minimized Bitcoin bridge and anchors its state roots to Bitcoin’s blockchain, aiming to leverage Bitcoin's security while supporting programmable smart contracts.
The blockchain is optimized specifically for stablecoin transactions and global payment efficiency, enabling fee-free USDT transfers. This specialization aims to provide fast, low-cost transactions and address challenges in scaling stablecoin usage amid increasing regulatory scrutiny in the US, following legislation like the GENIUS Act signed by President Trump in July 2025.
Future Plans
Plasma aims to become critical infrastructure for global stablecoin transfers, targeting the multi-trillion dollar stablecoin market starting with USDT, which holds nearly 70% of the stablecoin market share worldwide. From launch, Plasma will support USDT0, a multichain version of USDT, maintaining direct connections to USDT on Ethereum, Tron, and TON through a coordinated ecosystem including the Legacy Mesh and Arbitrum infrastructures.
The platform positions itself to facilitate institutional adoption and handle increasing stablecoin supply and users by offering a secure, decentralized, scalable blockchain tailored to stablecoin payments and cross-border transfers.
Implications
The fundraising round for Plasma was led by Framework Ventures, with participation from Bitfinex and Peter Thiel's Founders Fund. The success of the XPL public sale indicates a demand for Plasma's low-cost, fast, programmable blockchain for global stablecoin transfers. The GENIUS Act, which provides a framework for running digital assets businesses in fiat-pegged cryptocurrencies, was signed into law on July 18, potentially creating a beneficial regulatory environment for Plasma's operations. The fundraising round was announced on Monday.
In the aftermath of the successful $373 million token sale, Plasma is poised to revolutionize technology in the realm of news, as it gears towards becoming a critical infrastructure for global stablecoin transfers, focusing particularly on the efficient and cost-effective transfer of USDT. This development in technology is timely, following the signing of the GENIUS Act, which creates a potential beneficial regulatory environment for Plasma's operations.
