Plasma, a layer 1 blockchain focused on Stablecoin, has raised $373 million in public token sales, establishing it as a major new player in the Stablecoin infrastructure space.
summary
- Plasma raised $373 million in 10 days, seven times surpassing its $50 million target.
- The network starts up on TVL for $1 billion and supports zero-fee forwarding.
- That timing follows a genius that is friendly to Stablecoin, and raises investors’ trust.
According to a statement on Plasma’s official X account, the company raised $373 million in its 10-day token sale that ended July 28th. The pay raise marked one of the biggest token sales in 2025, exceeding seven times the original $50 million target.
Over 3,000 investors take part in the sale, with an average investment of around $83,000 per wallet. In total, 10% of the network’s 1 billion XPL token supply was sold, valued the project at $500 million. US participants face a 12-month lockup period, while global users will receive the token immediately after launch.
Plasma Public Sale concluded over $373 million on XPL purchases, representing over 7x oversubscription.
Plasma MainNet Beta will be launched for $1 billion on Stablecoin TVL, the fastest chain to reach this number in history.
I appreciate your support and trust. pic.twitter.com/pddsoa02c0
– Plasma (@plasmafdn) July 28, 2025
According to the team, the network’s beta mainnet is set to be released with a $1 billion Stablecoin Total Value locked in, and is the fastest chain to reach that number. Mainly tethers (USDT), Stablecoins are used to facilitate zero-FEE transactions on the network.
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Using the Bitcoin (BTC) UTXO model, Plasma is designed as an EVM compatible sidechain that combines Ethereum-like features with Bitcoin’s basic layer security. With zero-cost USDT transfers, the project aims to take advantage of the rapidly expanding Stablecoin Payments market.
The Genius Act boosts Stablecoin’s confidence
The salary increase was signed into law on July 18th by the Genius Act, the first US law to formally regulate $backed stubcoins on July 18th.
The project raised $24 million in two rounds, including support from Bitfinex, Founders Fund, Framework Ventures and Tether’s CEO Paolo Ardoino. The funds expand the plasma payment infrastructure in Latin America and the Middle East and are used for decentralized financial services such as Curve (CRV), Aave (Aave), and Ethena (ENA).
As the launch of the mainnet approaches, the ability of plasma to provide paid transfers and maintain network stability determines whether it can meet early demand and high ratings. Scalability, security, and regulatory compliance in post-Genius ACT environments is a major obstacle.
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