Funding of $28 million secured for Layer 1 'Stable' specializing in Tether
Stable, a Layer 1 blockchain network designed for seamless financial transactions, has announced the successful closure of a $28 million seed funding round. The project aims to boost stablecoin payments adoption by providing a blockchain optimized specifically for USDT transactions, offering low fees, high throughput, and sub-second block times.
The funding round was led by Bitfinex and Hack VC, with participation from Franklin Templeton, Castle Island Ventures, eGirl Capital, Bybit-Mirana, Susquehanna Crypto, Nascent, Blue Pool Capital, BTSE, KuCoin Ventures, and other investors. The funds will be used to build out the network's infrastructure, grow its employee base, and increase worldwide USDT distribution.
Stable's roadmap for 2025 consists of three key phases:
- Phase 1 (Already underway):
- Establish USDT as the native asset and gas token on the network.
- Implement sub-second block times and rapid finality to improve network speed and efficiency.
- Phase 2 (Coming months):
- Roll out USDT transfer aggregators for better transaction batching and efficiency.
- Introduce guaranteed blockspace for enterprises to ensure high-performance and prioritized transaction processing.
- Phase 3 (Later in 2025):
- Further speed upgrades to enhance network scalability.
- Release dedicated developer tools and resources to stimulate decentralized app (dApp) ecosystem growth on Stable’s blockchain.
Stable's unique positioning includes direct alignment with Tether (USDT) and regulatory-specialized support, aiming to compete with other networks by addressing stablecoin transaction inefficiencies prominent on general-purpose blockchains.
Key features of Stable’s blockchain network include:
- Native USDT gas token: Transactions and fees fully integrated with USDT, enhancing stablecoin utility.
- Sub-second block time and finality: Enables near-instant payments suitable for real-world use cases.
- Guaranteed blockspace for enterprises: Ensures priority and reliability for high-volume users and institutions.
- Developer tools and ecosystem support: Facilitates dApp development to build diverse use cases around stablecoins.
- Regulatory alignment: Positioned to benefit from U.S. crypto legislation providing clarity for stablecoin payments, supporting institutional adoption.
The project focuses heavily on enabling fast, low-cost stablecoin payments backed by the USDT stablecoin, leveraging the recent U.S. regulatory clarity brought by the GENIUS Act, which facilitates stablecoin payment adoption in banking and finance sectors. Stable's design focuses on reducing friction for end users by prioritizing usability and eliminating the need for volatile tokens for transaction fees.
Stable's "stablechain" is uniquely positioned in a market with the formal backing of the U.S. government to implement stablecoin payments. The network is ideal for peer-to-peer payments, remittances, and cross-border transactions, enabling virtually instant settlement.
For more information about Stable, visit Stable's website. For media inquiries, please contact [email protected].
[1] The original content for this press release can be found at this link [2] More information about Stable can be found at this link [3] The GENIUS Act, a U.S. crypto legislation, has provided regulatory clarity for stablecoin payments and established guidelines for banks and financial institutions to fast-track digital payments infrastructure.
- The newly funded blockchain network, Stable, announces its strategic utilization of the GENIUS Act to enhance its infrastructure, focusing on enabling fast, low-cost stablecoin payments backed by USDT.
- The funding round, led by Bitfinex and Hack VC, will support Stable's efforts to grow its employee base, increase USDT distribution worldwide, and build out its cloud-based technology infrastructure.
- In 2025, Stable plans to release dedicated developer tools and resources, aiming to stimulate a decentralized app (dApp) ecosystem and further invest in technology to speed up network scalability and performance.
