Name
Peter Thiel-Backed Plasma Raises $20M to Develop Bitcoin-Based Network for Stablecoins
Description
The project, which also claims Tether's Paolo Ardoino as an investor, aims to enhance stablecoin adoption through a Bitcoin sidechain that allows zero-fee USDT transactions.
Publish date
12:00am, Thursday, February 13, 2025
Referenced by
Plasma is designed to be a sidechain on the Bitcoin blockchain with full compatibility with the Ethereum Virtual Machine (EVM), which underpins a large part of decentralized finance activity.
Crypto news
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The fundraising round was led by Framework Ventures and will support Plasma’s testnet and mainnet launches, as well as its expansion into remittances, payments and DeFi applications, the team said.
Crypto news
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Stablecoins are proliferating at a time when regulators are increasingly recognizing the asset class’ legitimacy
Crypto news
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