Bitcoin News Today: Plasma Token Sale Oversubscribed by Sevenfold Valuing Project at $500 Million

Plasma, a stablecoin-focused layer 1 blockchain, has concluded a landmark $373 million token sale, surpassing its initial $50 million target by sevenfold over a 10-day period ending July 28, 2025 [1]. The oversubscribed offering attracted over 3,000 investors, with an average participation of $83,000 per wallet, selling 10% of its 1 billion XPL token supply and valuing the project at $500 million [2]. U.S.-based participants face a 12-month token lockup, while global investors received allocations immediately [3]. The sale marks one of the largest token offerings in 2025, reflecting strong demand for infrastructure tailored to stablecoin ecosystems.

The network’s beta mainnet is scheduled to launch with $1 billion in stablecoin total value locked (TVL), a record for the swiftest achievement of this milestone [4]. The platform, built as a Bitcoin UTXO-based sidechain, aims to enable zero-fee USDT transfers while maintaining EVM compatibility. By leveraging Bitcoin’s base-layer security alongside Ethereum-like functionality, Plasma positions itself as a scalable solution for cross-chain stablecoin operations and decentralized finance (DeFi) integrations [5]. The project’s focus on institutional adoption aligns with the recent passage of the U.S. GENIUS Act, which formally regulates dollar-backed stablecoins, bolstering investor confidence in compliant platforms [6].

Plasma’s prior $24 million in funding, including support from Bitfinex, Founders Fund, and Tether’s CEO Paolo Ardoino, has fueled expansion into Latin America and the Middle East, as well as partnerships with DeFi protocols like Curve, Aave, and Ethena [7]. The latest raise accelerates plans to solidify its payments infrastructure, targeting markets where stablecoins are increasingly pivotal for cross-border transactions.

The success of the token sale highlights a growing market appetite for solutions addressing stablecoin scalability and cost efficiency. Analysts note that Plasma’s differentiation—combining Bitcoin’s security with zero-cost USDT transfers—positions it to compete with established stablecoin platforms while catering to DeFi’s evolving needs [8]. However, challenges remain, including maintaining network stability, navigating post-GENIUS Act regulatory requirements, and scaling operations to meet projected demand [9].

The $1 billion TVL at launch underscores institutional confidence in Plasma’s ability to enhance stablecoin utility and liquidity. By prioritizing interoperability and compliance, the project aligns with broader trends in crypto infrastructure development, where stablecoins serve as critical bridges between traditional finance and decentralized systems [10].

Sources:

[1] https://crypto.news/plasma-stablecoin-layer-1-raises-373m-token-sale-2025/

[2] https://www.coindesk.com/business/2025/07/28/stablecoin-focused-bitcoin-sidechain-plasma-draws-usd373m-in-oversubscribed-token-sale

[3] https://www.ainvest.com/news/plasma-token-sale-raises-373m-10-days-746-oversubscribed-500m-valuation-2507/

[4] https://coinness.com/en/news/77888

[5] https://www.ainvest.com/news/plasma-token-sale-oversubscribed-746-500m-valuation-10-days-2507/

[6] https://www.nftgators.com/stablecoin-focused-layer-1-blockchain-plamsa-bags-373m-token-sale/

[7] https://coinmarketcap.com/community/articles/688851c093529f16716e8e75/

[8] https://crypto.news/plasma-stablecoin-layer-1-raises-373m-token-sale-2025/

[9] https://www.coindesk.com/business/2025/07/28/stablecoin-focused-bitcoin-sidechain-plasma-draws-usd373m-in-oversubscribed-token-sale

[10] https://www.nftgators.com/stablecoin-focused-layer-1-blockchain-plamsa-bags-373m-token-sale/