Tether-Focused Blockchain Project Secures Funding
A Tether-focused Layer 1 #blockchain project, Stable, has successfully raised $28 million in a seed funding round to enhance the adoption and utility of the $USDT stablecoin. The project aims to address the inefficiencies associated with using stablecoins on general-purpose blockchains by offering optimized solutions for stablecoin transactions.
Key Players in the Funding Round
The funding round was co-led by #Bitfinex and Hack VC, with participation from Franklin Templeton, eGirl Capital, Mirana, Castle Island Ventures, Susquehanna International Group, Nascent, and Blue Pool Capital. Notable angel investors and advisors include Bryan Johnson of Braintree and Divesh Makan of Iconiq Capital. Bitfinex, an early supporter of the project, played a significant role in incubating Stable since its inception.
US Regulatory Clarity and Stablecoin Development
The fundraising efforts come on the heels of the recent GENIUS Act in the U.S., which aims to provide regulatory clarity for stablecoins and foster the development of digital payments infrastructure. Paolo Ardoino, CEO of #theter and CTO of Bitfinex, highlighted ...
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