Money 2.0 Takes Flight: Plasma’s Stablecoin Ecosystem Surpasses $50M

The Plasma Ecosystem Meme Coin, a Bitcoin sidechain focused on stablecoin transactions, has seen its market cap surpass $50 million following a $50 million token sale at a fully diluted valuation of $500 million. The project, which raised $3.5 million in October 2024 and an additional $20 million in Series A funding in February 2025, announced the public sale of its native XPL token on July 17, 2025. The sale, offering 10% of the fully diluted supply, follows a deposit round that exceeded $1 billion in stablecoin liquidity within 35 minutes, underscoring high demand for the tokenPlasma Announces $50M Raise at $500M Valuation …^[3].

Plasma’s deposit mechanism allows users to earn the right to purchase XPL by staking stablecoins such as USDC, USDT, and USDS. The initial $500 million deposit cap was filled in under an hour, prompting the firm to double the cap to $1 billion. As of the latest data, the vault holds $558 million in USDC, $396 million in USDT, and smaller amounts in USDS and DaiPlasma doubles its deposit cap, clarifies it is eyeing …^[1]. Plasma emphasized that the $1 billion deposit does not equate to a token raise, as funds remain bridged to its mainnet beta and are fully owned by depositorsPlasma doubles its deposit cap, clarifies it is eyeing …^[1]. The public sale terms remain unchanged, with $50 million allocated at the $500 million valuationPlasma doubles its deposit cap, clarifies it is eyeing …^[1].

The project’s rapid growth is attributed to its EVM-compatible architecture, designed to eliminate transaction fees for Tether’s USDT. Plasma’s mainnet beta launched on September 25, 2025, alongside the Plasma One neobank, which offers a 4% cashback debit card powered by the blockchainPeter Thiel-backed startup rewards $8K to every participant^[4]. The platform also partnered with Binance Earn to launch a USD₮ product, achieving a $1 billion subscription cap in its largest campaign to datePeter Thiel-backed startup rewards $8K to every participant^[4]. By the launch date, Plasma held over $2 billion in stablecoin liquidity, positioning itself among the top eight blockchains by stablecoin volumePeter Thiel-backed startup rewards $8K to every participant^[4].

Investor enthusiasm has been further fueled by Plasma’s airdrop strategy. Participants in its pre-deposit ICO received $8,390 worth of XPL tokens, distributed equally regardless of deposit sizePeter Thiel-backed startup rewards $8K to every participant^[4]. The token’s price surged 32.25% in 24 hours, reaching $1.09, despite a post-launch dip from its initial $1.54 high. The XPL token’s fully diluted valuation ballooned to $8.6 billion, a 17.3-fold increase from its $500 million valuationPeter Thiel-backed startup rewards $8K to every participant^[4].

Regulatory and market dynamics also play a role in Plasma’s trajectory. The project enters a period of heightened scrutiny as the U.S. Senate advances the GENIUS Act and the House moves on the STABLE Act, both requiring stablecoin reserves to be backed by cash or TreasuriesPlasma Announces $50M Raise at $500M Valuation …^[3]. Meanwhile, the European Union’s MiCA framework, effective in 2025, mandates stringent compliance for crypto projectsPlasma Announces $50M Raise at $500M Valuation …^[3]. Plasma’s focus on stablecoin infrastructure aligns with growing institutional interest, as major banks and tech firms explore their own stablecoin initiativesPlasma doubles its deposit cap, clarifies it is eyeing …^[1].

Plasma’s co-founder and CEO, Paul Faecks, stated the project aims to democratize access to stablecoin-based financial products. “Stablecoins are Money 2.0, and our mission is to put them into the hands of everyone, everywhere,” he saidPeter Thiel-backed startup rewards $8K to every participant^[4]. The company plans to iterate on its blockchain to optimize stablecoin payments and expand product offerings, including the Plasma One debit card and cross-chain integrationsPeter Thiel-backed startup rewards $8K to every participant^[4].