Investment consortium Bitfinex and Hack VC jointly fund $28 million for a layer 1 project centered on Tether, a stable cryptocurrency.
In the rapidly evolving world of digital assets, a new player is making waves with its focus on optimising stablecoin transactions. Stable, a Web3 company, has recently completed a seed round of funding, raising $28 million for its layer-1 blockchain project, Stablechain.
The funding round, co-led by Bitfinex and Hack VC, was announced just two weeks after President Trump signed the GENIUS Act into law. This act provides clarity for stablecoin regulation and a framework for banks to build infrastructure for digital payments. This regulatory support is crucial for companies like Stable, as it paves the way for faster and cheaper digital payments that align with governmental guidelines.
Stablechain, the company's blockchain, is designed specifically for stablecoins, with a focus on Tether’s USDT. Its key features include sub-second block times, USDT as the native gas token enabling free transfers at the protocol level, fast settlement, low transaction fees, and guaranteed finality. The blockchain targets high throughput, capital efficiency, and reliability tailored for real-world payments, remittances, and cross-border transactions.
The phased development roadmap for Stablechain begins with Phase 1, which is already underway, implementing USDT as native gas and sub-second block times to achieve fast, low-cost settlements. Phase 2 plans to introduce blockspace guarantees for enterprise payments and a USDT aggregator, enhancing scalability and predictable performance. Phase 3 will focus on developer tools and ecosystem growth to facilitate broader USDT use in DeFi, institutional markets, and remittance services, with the mainnet targeted for late Q3 or early Q4 2025.
By using USDT natively as gas and optimising for stable transactions, Stablechain aims to overcome inefficiencies seen in stablecoin usage on Ethereum, Tron, and others, where USDT operates as tokens subject to those chains’ consensus mechanisms and often requires wrapped tokens or bridges.
Notably, another Web3 company, Plasma, also focused on stablecoins, raised $373 million in an oversubscribed token sale. Bitfinex, a backer for both Stable and Plasma, is contributing to the growing interest in stablecoins as the future of on-chain payments. Paolo Ardoino, CEO of Tether and CTO of Bitfinex, believes that the U.S. is shifting its approach towards digital assets and stablecoins, moving from an 'enforcement by lawsuit' approach to providing clear rules for institutions.
Major financial institutions and banks can now fully utilise assets like USDT, according to Ardoino. In addition to Bitfinex, Stable's seed round saw participation from Franklin Templeton, eGirl Capital, Mirana, Castle Island Ventures, Susquehanna International Group, Nascent, and Blue Pool Capital.
With the regulatory landscape becoming clearer and the growing interest from investors, it seems that stablecoins are poised to revolutionise the digital payments landscape. As Stable and other companies continue to innovate and develop, we can expect to see faster, cheaper, and more reliable digital payments in the near future.
[1] Stable. (n.d.). Stablechain. Retrieved from https://stable.co/stablechain [2] Stable. (n.d.). Stablechain Phases. Retrieved from https://stable.co/stablechain-phases [3] Stable. (n.d.). Stablechain: Overcoming Inefficiencies in Stablecoin Usage. Retrieved from https://stable.co/stablechain-overcoming-inefficiencies [4] Stable. (n.d.). Stablechain: A Regulatory Perspective. Retrieved from https://stable.co/stablechain-regulatory-perspective
- The news about Stable, a Web3 company, successfully raising $28 million for its layer-1 blockchain project, Stablechain, underscores the growing interest in finance and investing in Web3 technologies, particularly stablecoins.
- As technology advances and regulatory support for stablecoins grows, news outlets may soon cover the impact of platforms like Stablechain on the future of finance and digital news, revolutionizing finance and technology sectors with fast, cheap, and reliable digital payment solutions.
