Plasma, an EVM-compatible Bitcoin sidechain, is preparing to launch its mainnet by the end of summer 2025 after raising $1 billion in the XPL token pre-sale and $24 million from funding rounds. Aiming to become the 'number one stablecoin chain', Plasma focuses on optimizing stablecoin transactions, leveraging the growth of the stablecoin market (capitalization of $251.74 billion, according to DefiLlama, as of 20/06/2025).
Plans for launching the Plasma sidechain and XPL pre-sale
#Plasma , led by CEO Paul Faecks, is developing an optimal blockchain for stablecoins, supporting major coins like USDT and USDC, with the goal of providing fast transactions, low costs, and no gas fees. This sidechain, compatible with the Ethereum Virtual Machine (EVM), is expected to launch its mainnet around the end of summer (anticipated before 22/09/2025), with the public pre-sale of XPL tokens starting as early as 13/08/2025.
The pre-sale has attracted $1 billion in deposits, with support from prominent figures such as Tether CEO Paolo Ardoino, PayPal co-founder Peter Thiel, and the Founders Fund (strategic investment with a $500 million FDV). Plasma also raised $24 million through Seed and Series A rounds in February 2025. To comply with regulations, US investors must lock their XPL tokens for 12 months after the mainnet.
Faecks emphasizes: 'We are building the best blockchain to transfer stablecoins from A to B.' Plasma focuses on deep integration with payment systems, providing compliant private USDT transactions, and does not invest in areas such as meme coins or real-world assets (RWA), unlike Ethereum (TVL $46 billion) or Tron.
Market context and stablecoin trends
The stablecoin market is booming, with a capitalization of $251.74 billion, led by USDT on Tron and Ethereum (DefiLlama). The success of Circle's IPO, the GENIUS Act in the US, and the involvement of major corporations like Walmart and Bank of America have boosted stablecoin adoption. Plasma capitalizes on this trend, with dozens of traditional financial companies reaching out to issue or integrate stablecoins on their platforms, although Faecks did not disclose specific names.
Faecks describes #stablecoin as a 'network effect business', with value concentrated on major coins that are highly liquid and widely integrated. He doubts the viability of thousands of stablecoins coexisting, predicting that only one or two will dominate the market. With support from friendly policies in the US, such as the GENIUS Act and Trump's strategic Bitcoin reserve proposal, Plasma has the opportunity to position itself as the leading platform for stablecoin payments, competing with Solana (TVL $9.8 billion) and Cardano (TVL $356 million).
However, Plasma faces challenges regarding liquidity and initial acceptance, especially when competing with established blockchains that have large ecosystems like Ethereum and Solana. Additionally, regulatory challenges in the US, such as the potential failure of the CLARITY Act, may impact its long-term prospects.
Impact on the crypto market
Plasma's plans could have significant impacts:
Promoting stablecoin payments: With gas-free transactions and deep integration into payment systems, Plasma could enhance liquidity for USDT ($83 billion market cap) and $USDC ($32 billion), supporting DeFi applications and cross-border payments.
Competing with other Layer-1s: As a Bitcoin sidechain, Plasma leverages Bitcoin's security but offers EVM capability, directly competing with Solana and Ethereum in the stablecoin and DeFi space.
Attracting institutional investment: The involvement of Peter Thiel and Tether, along with a $1 billion deposit, could encourage traditional financial firms to integrate stablecoins, reinforcing crypto's role in global finance.
However, investors should be aware of the risks associated with dependence on stablecoins and potential delays in the mainnet launch. Legal uncertainties in the US, particularly concerning SEC regulations, are also factors to consider.
Suggestions for investors
Focusing on stablecoins: With USDT and USDC leading the market, payment-related tokens like Plasma's XPL have growth potential if the mainnet succeeds. Monitor the XPL pre-sale starting in August 2025.
Investment in Bitcoin and Solana: Bitcoin ($108,388) remains a safe asset, while Solana ($145) leads in stablecoin TVL ($11 billion). Both benefit from the stablecoin trend.
Monitor DeFi projects: Platforms like Ethereum ($2,491) and Cardano ($0.39) provide opportunities in DeFi, especially if Plasma expands its stablecoin ecosystem.
Caution regarding legal risks: Monitor the GENIUS Act and SEC moves to assess the impact on Plasma and the stablecoin market.
Risk warning: Investing in cryptocurrencies carries high risks due to significant price volatility.
