Haciyev Reşit 
The highly anticipated development in the crypto space is just around the corner. Plasma, a Layer 1 blockchain supported by Bitfinex, has announced that it will launch its mainnet beta on September 25, 2025, along with its native token XPL.
Plasma stands out as an infrastructure focused primarily on stablecoin payments. At launch, it will start with more than $2 billion in total value locked (TVL) and over 100 integrations with leading DeFi protocols such as Aave, Ethena, Fluid, and Euler.
Massive Liquidity from Day One
The project has already attracted significant demand through various campaigns conducted over the summer, including a $1 billion deposit campaign, an oversubscribed $50 million public sale, and a $1 billion subscription cap reached via Binance Earn. All of these factors reflect the strong market interest. Backed by this momentum, Plasma aims to rank as the eighth-largest chain globally in stablecoin liquidity from day one.
What is Plasma (XPL)?
Plasma (XPL) is a high-performance Layer 1 blockchain specifically designed for global stablecoin payments. Its native token, XPL, will launch alongside the network. During July’s 10-day public sale, the project raised $373 million in commitments. XPL has already been traded in pre-markets with a fully diluted valuation (FDV) of over $4.5 billion, and on Hyperliquid, it reached $0.69, implying a $6.9 billion FDV.
Key Features of the Mainnet
Plasma aims to create a stablecoin-focused infrastructure for daily payments, FX transactions, card networks, and on/off ramps. At launch, the network will offer substantial USDT liquidity, the lowest borrowing rates for USDT, and zero-fee USDT transfers through its PlasmaBFT consensus mechanism. Plasma CEO Paul Faecks described the vision by saying, “This is Money 2.0. Our goal is to build a world where stablecoins empower everyone with equal and permissionless access to financial services.”
Competitive Stablecoin Market
Plasma enters a highly competitive arena dominated by Tron and Ethereum.
- Tron recently cut transaction fees by 60% to defend its stablecoin dominance.
- Ethereum has reached a record $166 billion stablecoin market cap, with $87.8 billion from Tether alone.
According to Faecks, fee reduction alone is not enough:
“Tron already handles the majority of stablecoin transfers. Lowering fees helps maintain that position. But Plasma goes beyond fee-less USDT transfers — we aim to grow through enterprise collaborations, critical payment partnerships, and regional integrations.”
Outlook
Plasma’s Tether-backed mainnet launch could mark the beginning of a new era in the stablecoin blockchain race. With: Zero-fee USDT transfers, strong liquidity backing, enterprise and fintech integrations Plasma is positioning itself as a direct challenger to Tron and Ethereum in the global stablecoin market. This move may open significant opportunities not only for stablecoin users, but also for DeFi developers and institutional financial players worldwide.
You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.