The Stable project has successfully raised $28 million in investment during a seed funding round aimed at creating a new blockchain network specialized in supporting stablecoins and optimizing payment operations with them.
This is reported by Finway
Investors and Strategic Partners
The funding round was led by Bitfinex and Hack VC. Other investors included Franklin Templeton, Castle Island Ventures, Bybit Mirana, BTSE, KuCoin Ventures, Tether CEO Paolo Ardoino, Braintree co-founder Brian Johnson, and other influential market participants.
Features of Stablechain and Roadmap
Stable is developing its own Layer 1 blockchain – Stablechain. The network is distinguished by several innovative features:
- the use of the USDT token as gas for transaction execution;
- full compatibility with the Ethereum Virtual Machine (EVM);
- transaction finality in less than one second, significantly reducing delays;
- high throughput for scalable solutions.
The development roadmap consists of three phases:
- Phase 1: ongoing launch of the blockchain with the ability to conduct fee-free transactions and rapid finality;
- Phase 2: integration of aggregators for USDT transfers and the introduction of dedicated blockspace for corporate clients in the coming months;
- Phase 3: launch of an SDK, creation of tools for developers, and support for embedded payments in stablecoins.
Joshua Harding, founder and CEO of Stable, noted that the main goal of the project is to update outdated financial infrastructure and promote the widespread adoption of digital payments. He emphasized that the platform’s architecture will enable
“instant and low-cost transfers.”
Tether CEO Paolo Ardoino stressed that changes in the regulatory environment in the U.S. are opening new opportunities for institutional players to “fully leverage the potential of assets like USDT.”