Founded in 2024, Plasma focuses on infrastructure for stablecoins and initially worked on stablecoin yield strategies and cross‑chain bridging solutions. The company is developing a Bitcoin‑secured sidechain using an Reth‑based EVM and a proprietary PlasmaBFT consensus mechanism to deliver sub‑second finality and high throughput. Core capabilities highlighted include zero‑fee USDT support, intents‑based bridging for interoperability, and security anchored in Bitcoin proof‑of‑work. Plasma’s testnet went live in late 2025 and the team targets mainnet upgrades in Q2 2026 to enable scalable issuance and transfers. The platform positions itself to handle very large on‑chain stablecoin value and has announced partnerships, such as with NEAR Protocol, to address payments, remittances, and merchant settlement use cases. The recent $24 million funding round provides the capital to accelerate product development and broader ecosystem integration.

Total raised

$400M

Funding rounds

4

Latest round

Initial Coin Offering

Latest activity

Jul 2025