Plasma Raises $24 Million in Fundraising Led by Bitfinex and Tether
- Plasma, a blockchain firm for stablecoins, raised $24 million in a recent fundraising round.
- The fundraising was led by crypto exchange Bitfinex and stablecoin issuer Tether (USDT).
- Plasma aims to address challenges like high transaction fees and centralization issues on legacy blockchains.
- The company plans to launch USDT as the first product on its protocol.
- USDT is the largest stablecoin globally, with nearly a 70% market share.
Plasma has secured $24 million in funding to develop a blockchain specifically for stablecoins, addressing current limitations of legacy systems. The first product will be USDT, leveraging its significant market presence.
Source (2.6)https://dailyhodl.com/2025/02/13/peter-thiel-backed-stablecoin-firm-plasma-rakes-in-20000000-in-series-a-fundraising/?rand=59076
