Stable, an emerging blockchain project, has successfully secured $28 million in seed funding. This substantial investment is earmarked for the development of a new Layer-1 network specifically designed for stablecoin transactions. The significant capital infusion underscores a growing institutional recognition of the critical need for more efficient and scalable infrastructure to support the widespread adoption of digital payments within the broader cryptocurrency ecosystem.
- Stable secured $28 million in seed funding for a new Layer-1 network.
- The network is specifically engineered for stablecoin transactions.
- The funding round was co-led by prominent industry players Bitfinex and Hack VC.
- Key institutional and crypto-native investors include Franklin Templeton, Castle Island Ventures, Bybit Mirana, BTSE, and KuCoin Ventures.
- Individual investors include Paolo Ardoino (CEO of Tether) and Brian Johnson (co-founder of Braintree).
Driving Digital Payment Innovation
Joshua Harding, Founder and CEO of Stable, has outlined the project’s overarching vision: to modernize existing financial infrastructure and facilitate the mass adoption of digital payments. Central to this ambition is Stablechain, the project’s proprietary Layer-1 blockchain. Engineered for optimal speed and efficiency, Stablechain features sub-second transaction finality, ensuring near-instant confirmations. Its EVM-compatibility simplifies developer migration and integration, while high throughput capacity enables the processing of large transaction volumes. A distinctive feature of Stablechain is its use of USDT as the gas token, a strategic choice intended to streamline operations and and significantly reduce transaction costs for users.
The project’s strategic roadmap is structured into three distinct phases. The initial phase focuses on the foundational launch of the blockchain, with a strong emphasis on enabling commission-free transactions and achieving rapid finality. The second phase, anticipated in the coming months, will introduce USDT transfer aggregators and dedicated blockspace, specifically tailored for business operations. The final phase is designed to empower developers by providing a comprehensive Software Development Kit (SDK) and a suite of tools, thereby facilitating the seamless integration of native stablecoin payments into a wide array of applications and services.
Paolo Ardoino’s endorsement of Stable highlights its broader market significance, emphasizing that projects like Stable are indispensable for institutional players looking to fully harness the potential of assets such as USDT. This becomes particularly pertinent as the regulatory landscape in the United States continues to evolve. Ardoino’s perspective reflects a strategic industry pivot towards robust infrastructure capable of supporting institutional-grade stablecoin use cases, effectively bridging the chasm between traditional finance and the burgeoning digital asset economy.
Michael combines data-driven research with real-time market insights to deliver concise crypto and bitcoin analysis. He’s passionate about uncovering on-chain trends and helping readers make informed decisions.