In excess funding, Plasma secures a substantial $373M in a well-subscribed token offering, aimed at fortifying its blockchain for stablecoins.
In a significant move for the blockchain industry, Plasma, a specialized platform designed for stablecoins, has successfully completed a $373 million public token sale for its XPL tokens. This sale marks the establishment of a $500 million network valuation for Plasma.
The token sale, which ended on July 28, was more than seven times oversubscribed, making it one of the largest token offerings in 2025. Over 3,000 investors participated, with each investor, on average, committing approximately $83,000.
Plasma sold 10% of its total 1 billion XPL token supply during the public sale. This move positions the network's mainnet beta, scheduled for launch, to kick off with a $1 billion total value of stablecoins locked.
The funding for Plasma's strategy development and financing has been primarily supported by institutional investors such as Framework Ventures, Bitfinex, and Tether. Notable investments include a $20 million Series A funding round and a $373 million token sale in 2025. Other notable backers include Paolo Ardoino, CTO at Bitfinex, and strategic angels like Peter Thiel.
As a Bitcoin sidechain, the Plasma network features a trust-minimized BTC bridge and anchors state roots to Bitcoin's blockchain for enhanced security. It also combines Bitcoin's security model with Ethereum-compatible smart contract functionality, providing a unique blend of security and functionality.
The Plasma network is optimized specifically for stablecoin use cases, offering potential performance advantages for payment applications and cross-border transfers. This specialized approach contrasts with general-purpose blockchains, and Plasma aims to capture the trillion-dollar stablecoin opportunity, starting with USDT, the largest stablecoin worldwide and commanding nearly a 70% market share.
Paolo Ardoino, CTO at Bitfinex and strategic backer of Plasma, emphasized the infrastructure need for stablecoin growth. He stated that with strong growth in both supply and users, we are entering a new phase of mainstream adoption for stablecoins, and it's crucial to have secure, decentralized, and scalable infrastructure in place.
Plasma's mainnet beta will launch with $1 billion in stablecoin total value locked, setting the stage for a promising future in the stablecoin market. Global investors will receive tokens immediately upon network launch, while U.S.-based participants face a 12-month lockup period.
The Plasma network's launch and successful token sale are significant steps towards meeting the challenge of stablecoin growth and providing a secure, decentralized, and scalable infrastructure for the burgeoning stablecoin market.
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