Stable secures $28M, led by Bitfinex and Hack VC, to bring a native USDT blockchain to life

Stable raised $28 million in a seed round led by Bitfinex and Hack VC to develop a native USDT blockchain called Stable, according to reports on the financing and project details. The project is described as an EVM-compatible Layer 1 built by Bitfinex and Tether that is intended to reduce friction in moving USDT at scale, with transaction design focused on payments and settlement use cases. The funding round also included participation from Franklin Templeton, Castle Island, and USDT0, and the company is said to be in a private testnet phase with a public testnet expected later in the year. The broader significance is that Stable sits within a growing race to build stablecoin-specific chains, as major crypto and payments firms increasingly target infrastructure optimized for stablecoin transfers rather than general-purpose blockchain activity.

✨ AI-generated background, compiled from web sources — not editorial content.

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