Plasma: Stablecoin Layer 1 and XPL token go live

• The stablecoin project Plasma launched its highly anticipated mainnet beta today alongside its native token XPL. With more than $2 billion in stablecoin liquidity, it is the eighth-largest blockchain by stablecoin liquidity.
• The PlasmaBFT consensus model was specifically developed for stablecoin flows and is expected to boast high throughput. Users can send USDT fee-free during the rollout.
• Plasma launches with more than 100 DeFi integrations, including Aave, Ethena, Fluid, and Euler. Layer 1 will compete with Ethereum, Tron, and others for stablecoin traffic with Tether's USDT.
• The flagship product, Plasma One, is intended to be a stablecoin-native neobank and thus an app for using digital US dollars in everyday payments.
• “When we founded Plasma in 2024, our goal was to lay the foundation for global money movement, and the launch of our mainnet beta brings us closer to realizing that goal,” explains Paul Faecks, CEO of Plasma.
• He adds: “Plasma can now provide both the infrastructure and the product to ensure universal access to the US dollar, regardless of local market conditions. Stablecoins are Money 2.0, and our mission is to put them in the hands of everyone, everywhere.”
• The XPL token acts as a native gas and staking token, which is used to pay transaction fees and secure the network via Proof-of-Stake.
• Meanwhile, a banking consortium led by DekaBank, ING and other European institutions is planning to introduce a regulated euro stablecoin.
• Bullish, a crypto exchange focused on institutional clients, has now listed Société Générale's USDCV, Europe's first regulated dollar stablecoin. Adoption of tokenized fiat counterparts is also progressing elsewhere.

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