Plasma is a Milan-based startup building a stablecoin-focused Layer 1 blockchain and consumer fintech stack, and has raised $24 million in venture funding to launch its own chain and associated products, according to Fortune’s reporting. The round is led by crypto VC firm Framework Ventures, with participation from investors including Bitfinex and Founders Fund in earlier commitments and token sales, positioning Plasma as a heavily backed entrant in the stablecoin infrastructure and payments space. The company is targeting users in countries with volatile local currencies by offering dollar stablecoin rails as an alternative savings and payments channel. Plasma’s blockchain is described as a stablecoin-native, EVM-compatible Layer 1 optimized for high-throughput, low-cost stablecoin transactions, featuring its own PlasmaBFT consensus and support for zero-fee USDT transfers. Around the chain, Plasma is building Plasma One, a stablecoin neobank product with virtual and physical cards, stablecoin yields, and global merchant acceptance, and has pursued regulatory approvals such as a VASP license in Italy and EU MiCA-aligned expansion. The project plans to compete in cross-border payments, remittances, and everyday stablecoin spending, positioning its chain and banking-style front end as infrastructure aimed at becoming a settlement layer for digital dollars globally.

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

More coverage

Explore the topic

Loading related coverage…

Explore the full feed

Comments

Loading comments…