A stabile company supported by veteran -investor Peter Thiel gets money in tens of millions of dollars during a recent fundraising event.
In a new one wire On the social media platform X, plasma-a company says that a Bitcoin (BTC)–based blockchain designs that is specifically tailored to stablecoins-that it has collected $ 24 million in a fundraising under the leadership of Crypto Exchange Bitfinex and Stablecoin Tetertttt ).
According to Plasma, the Stablecoin activity on block chains currently faces many challenges, included High transaction costs, centralization problems, high transaction rates and a lack of specialized functions to support the unique requirements of Stablecoins.
“In recent months we have seen unprecedented levels of excitement about stablecoins, both of traditional financial institutions and the public sector. Despite this explosion of interest and growth, the Stablecoin market, however, faces a major obstacle: Legacy block chains limit their adoption speed …
Plasma solves these challenges with a specially built blockchain that will bring the worldwide adoption from Stablecoin to the next level and will unlock trillions of dollars onchain. Plasma, designed to provide for the unique needs of Stablecoins and offers a scalable, efficient and safe basis for the next generation of money movement. “
The company continues public participation That the first product that is available through its USDT protocol is the largest stablecoin per market capitalization.
“We strive to capture the stabile-dollar opportunities of trillion dollar, starting with USDT, published by Tether. USDT is the largest stablecoin worldwide and almost recommends a market share of 70%.
Supported by Bitfinex and USDT0, plasma zero-fee uses USDT transfers, making it the most efficient and scalable blockchain for the available stablecoin payments. “
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Featured image: Shutterstock/Stipped Yeti/Sensvector