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Stablecoin company Plasma announced it has raised $24 million

Plasma plans to use the $24 million funding to support its testnet and mainnet launches, along with its expansion into remittances, payments, and decentralized finance (DeFi) applications

Plasma aims to offer zero-fee Tether transactions, providing stablecoin customers with a cost-effective payment solution

Plasma's blockchain is built as a sidechain on the Bitcoin network and designed to handle stablecoin transactions efficiently.

Plasma's initiative reflects the growing trend of integrating stablecoins into various blockchain networks to enhance transaction efficiency and broaden their use cases

Plasma's Series A funding round was led by Framework Ventures, with participation from Peter Thiel, Bitfinex, and Tether CEO Paolo Ardoino

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Stablecoin company Plasma raised $24 million

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