Bitfinex-backed Plasma secures EtherFi partnership with $500 million ETH vault integration
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Promote with Leviathan NewsBitfinex-backed stablecoin infrastructure project Plasma has announced a strategic partnership with Ethereum staking protocol EtherFi, under which EtherFi will integrate its roughly $500 million Ethereum staking vault into Plasma’s ecosystem. The deal makes EtherFi a day-one launch partner for Plasma’s mainnet beta and involves moving more than $500 million in staked ETH from EtherFi’s vault to Plasma, where it will be used to supply liquidity for stablecoin-backed yield strategies. EtherFi is currently one of the largest DeFi protocols, with about $11–11.5 billion in total value locked (TVL) and a top‑10 DeFi ranking. Plasma is an EVM-compatible Bitcoin sidechain focused on stablecoin infrastructure and zero-fee USDT transfers, backed by investors including Bitfinex and Tether CEO Paolo Ardoino, along with Founders Fund and Framework Ventures. By integrating EtherFi’s liquid staking tokens (LSTs) and staking vault into Plasma, the partnership expands collateral options for lending and borrowing on Plasma while providing EtherFi with a lower-cost, scalable environment for ETH-based yield products and stablecoin payments. The collaboration is positioned as a way to bootstrap liquidity for Plasma’s launch, deepen the link between Ethereum staking and stablecoin use cases, and compete for a share of the growing stablecoin and DeFi infrastructure market.
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More coverage
- Bitfinex-backed Plasma secures EtherFi partnership with $500 ... (cryptorank.io)
- Bitfinex-backed Plasma secures EtherFi partnership with $500 ... (cryptorank.io)
- Stablecoin Infrastructure as the Next DeFi Growth Catalyst: Plasma's ... (ainvest.com)
- EtherFi Allocates $500 Million to Plasma in Partnership Deal - ForkLog (forklog.com)
- Plasma and EtherFi: How Their Partnership is Transforming ETH ... (okx.com)
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