Isabella García
Stablecoin-first Layer 1 blockchain Plasma has officially launched its mainnet and native XPL token, introducing fee-free USDT transfers, over 100 DeFi integrations, and a custom consensus protocol known as PlasmaBFT.
Plasma positions itself as a network purpose-built for stablecoin adoption and cross-border payments. The blockchain is EVM-compatible, enabling seamless integration with existing Ethereum-based applications. During the early rollout, users can transfer USDT without fees, making it one of the most attractive options for stablecoin transactions.
Key partners at launch include Aave, Ethena, Fluid, and Euler, signaling deep integration with the broader DeFi ecosystem.
Stablecoin Liquidity and Market Valuation
According to PRIME, Plasma went live with more than $2 billion in stablecoin total value locked (TVL), immediately ranking among the top 10 blockchains by stablecoin liquidity. Its native token XPL reached a fully diluted valuation of over $8 billion on trading platforms like Hyerliquid.
“Stablecoins are Money 2.0,” Plasma CEO Paul Faecks said. He added that enabling universal access to the U.S. dollar, regardless of local economic conditions, will expand financial inclusion and investment opportunities worldwide.
Record-Breaking Community Participation
Plasma’s launch follows a series of highly successful community campaigns. A June deposit drive hit its $1 billion cap in just 30 minutes. The project’s $50 million public token sale was oversubscribed by $323 million, highlighting significant market demand.
Additionally, a Binance Earn product featuring Plasma USDT reached $1 billion in subscriptions, which the company called the exchange’s largest on-chain campaign to date.
Consumer Push With Plasma One
Beyond DeFi, Plasma is advancing its consumer strategy with Plasma One, a stablecoin-native neobank app designed for saving, spending, and sending digital dollars. The app, introduced earlier this week, is expected to go live later this year, expanding Plasma’s reach into mainstream financial services.
