CandleFocus Peter Thiel-Backed Plasma Raises $20M to Develop Bitcoin-Based Network for Stablecoins
2025-02-13
Author: Content Editor
Crypto startup Plasma has raised $20 million in a funding round led by Framework Ventures. The funds will be used to support the development of Plasma's Bitcoin-based blockchain, which is specifically designed for stablecoins. Plasma aims to address challenges faced by stablecoins on existing blockchains, such as high fees and scalability limits, by leveraging Bitcoin's security and offering zero-fee USDT transactions. The company plans to expand into remittances, payments, and DeFi applications. Stablecoins have gained significant popularity in the crypto industry, with a total supply surpassing $220 billion.
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