Stable raises $28M to boost USDT payments, aiming to speed up stablecoin payments amid growing U.S. regulatory clarity.
Stable, a new Layer 1 blockchain focused on powering USDT transactions, has raised $28 million in seed funding. The network, described as a “stablechain,” is built specifically for stablecoins. It aims to create fast and seamless financial transactions using Tether’s USDT. It was led by Bitfinex and Hack VC with the participation of Franklin Templeton, Castle Island Ventures, eGirl Capital, Bybit-Mirana, Susquehanna Crypto, Nascent, Blue Pool Capital, BTSE, and KuCoin Ventures.
Stable Targets Faster Payments with USDT-Powered Platform
This is the fundraising by Stable, which came out of the stealth mode recently. Bitfinex, a major early investor, played an important role in the project’s incubation. The money will be invested in the development of the infrastructure of Stable, its staffing, and the expansion of access to USDT payments worldwide. The stablecoin will be launched as the use of stablecoins is increasing, particularly following the recent authorization of the GENIUS Act in the United States.
Stable CEO and founder, Joshua Harding, articulated that current payment systems in the world are old and inefficient. He emphasized that Stable was built to solve these problems by enabling instant and secure payments with stablecoins. Moreover, the platform focuses on speed and reliability. In addition, support from both crypto-native and traditional financial investors shows rising trust in stablecoin-based platforms. This backing highlights Stable’s growing role in the future of finance.
The recently signed GENIUS Act in the U.S. introduces less ambiguous regulations of stablecoin use and a guideline to upgrade the digital payments infrastructure of banks. It is a critical regulatory shift. The crypto industry was uncertain with uncertainty over the years, and the situation is changing to be more organized to support it. Stable is coming into the market at a time when the U.S. is promoting innovation in digital assets which puts the project in an advantageous position.
Related Reading: Western Union Plans Stablecoin Integration After GENIUS Act Approval | Live Bitcoin News
Stable Aligns USDT Expansion with U.S. Regulation Shift
Tether CEO Paolo Ardoino, who also serves as CTO of Bitfinex, commented on the new regulatory direction. He said the U.S. has moved past strict crackdowns and now welcomes institutions to use digital assets. Ardoino added that Stable understands how to expand USDT into wider use. He also praised the project’s strong infrastructure and clear roadmap. Moreover, he sees this as a chance for Stable to grow with support from new U.S. policies.
In terms of development, Stable already has a roadmap up to 2025 that will be split into three important phases. The initial stage has already started to be realized, and the target of this stage is the use of USDT as the primary token of transactions and token of network gas. This phase also has upgrades of sub-second block time and fast finality to increase the transaction speed. Phase 2 will launch soon. It will bring USDT aggregators and offer dedicated blockspace to businesses. This will make processing more stable and effective. Phase 3 will offer more performance enhancements and present new tools that will enable developers to create new decentralized applications.
As more institutions and customers demand faster and more reliable digital payments, Stable has shifted its focus to USDT. This move, along with clearer U.S. regulations, may give Stable a strong advantage. Moreover, Stable will take an active role in shaping digital finance. It will work closely with the most used stablecoin and follow the latest laws.
