Tether-Backed Plasma Stablecoin Blockchain Set to Launch on September 25
Highlights
- Plasma's native token XPL will also launch on September 25.
- $2 billion stablecoins will be deployed on the network upon launch.
- Capital will be deployed across over 100 DeFi partners.
Plasma stablecoin blockchain has provided an update on the launch of its mainnet beta and its native token XPL. The launch is set to take place this month, with Plasma ranking as the 8th largest network by stablecoin liquidity upon launch.
Plasma Stablecoin Blockchain To Launch Mainnet Beta
In a blog post, Plasma announced that its mainnet beta will go live alongside the XPL token on September 25. $2 billion in stablecoins will be available on the network upon launch, making it the 8th largest network by stablecoin liquidity. The network is backed by the largest stablecoin issuer, Tether, and Peter Thiel’s Founders Fund.
The Plasma stablecoin blockchain will deploy capital across over 100 DeFi partners, including top DeFi protocol Aave, Ethena, Fluid, and Euler. The team stated that the goal is to provide immediate utility, enable “savings that preserve value, deep USDT markets, and the lowest USDT borrow rates in the industry.”
Upon the mainnet beta launch, the Plasma stablecoin blockchain will bridge vault deposits to users, allowing them to withdraw USDT0. The team stated that this will mark the completion of the final launch phase and that they will enable zero-free USDT transfers for all users.
Furthermore, the network will introduce PlasmaBFT as part of the mainnet beta launch, which is a high-throughput consensus layer for stablecoin flows. Users will be able to move USDT with zero fees using authorization-based transfers.
Meanwhile, during the rollout and stress testing, the Plasma stablecoin blockchain will limit these zero-transfers to its products. However, over time, the team plans to extend zero-fee transfers beyond their products. As part of the mission to be the rails for digital dollars, the network will connect to physical peer-to-peer cash networks, allowing digital dollars to achieve “merchant penetration.”
The Launch of The XPL Token
XPL, which powers the Plasma stablecoin blockchain, will also go live on the same day. Notably, top crypto exchange Binance previously introduced a pre-market perpetual contract for the token, peaking at around $0.55.
The Plasma team stated that, at the launch of mainnet beta, they will airdrop an additional 25 million XPL tokens to recognize users who completed Sonar verification and participated in the sale. Additionally, they will reserve 2.5 million XPL for current and future members of the Stablecoin Collective.
Non-U.S. investors who participated in the public sale will also receive their XPL tokens upon mainnet beta launch. Meanwhile, U.S. investors will begin to receive theirs from July 28, 2026, in line with the applicable laws.
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