Stable raised $28 million to launch a blockchain for stablecoins. The Stable project raised $28 million in seed funding to create a new network optimized for stablecoins and payment operations based on them.

The funding round was jointly led by Bitfinex and Hack VC. Other investors include Franklin Templeton, Castle Island Ventures, Bybit Mirana, BTSE, KuCoin Ventures, Tether CEO Paolo Ardoino, Braintree co-founder Bryan Johnson, and others.

The founder and CEO of the project, Joshua Harding, stated that Stable aims to update the outdated financial infrastructure and ensure the mass adoption of digital payments. According to him, the network's architecture will allow for "instant and low-cost transfers."

It should be noted that Stable is creating its own L1 blockchain, Stablechain. Its main characteristics: