Plasma, a startup focused on developing a blockchain tailored for stablecoin transactions, has raised $20 million in a Series A funding round led by Framework Ventures, following an earlier $4 million seed round. The investment, which includes participation from notable figures such as Peter Thiel and Tether CEO Paolo Ardoino, aims to enhance Plasma’s capabilities in facilitating zero-fee USDT transfers on a Bitcoin-based sidechain. Plasma seeks to address the limitations of existing blockchains like Ethereum and Tron, which face issues of high fees and scalability. By leveraging Bitcoin’s security while offering the programmability of Ethereum, Plasma aims to create a more efficient platform for stablecoin transactions.
Plasma Secures $20 Million to Launch Bitcoin-Based Blockchain for Zero-Fee Stablecoin Transactions
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