Stable, a Layer 1 blockchain platform designed to revolutionize stablecoin payments with Tether’s USDT at its core, has raised $28 million in a seed funding round co-led by Bitfinex and Hack VC. The round attracted a diverse group of investors, including Franklin Templeton, Castle Island Ventures, eGirl Capital, Bybit-Mirana, Susquehanna Crypto, Nascent, Blue Pool Capital, BTSE, and KuCoin Ventures. Notable angel investors and advisors include Tether CEO Paolo Ardoino, Braintree’s Bryan Johnson, Anchorage’s Nathan McCauley, and Gabriel Abed.
The funding, announced shortly after Stable’s emergence from stealth, will fuel the development of its “stablechain,” a blockchain tailored for seamless USDT transactions. Unlike general-purpose blockchains, Stable eliminates high fees and slow confirmations by using USDT as its native gas token, enabling zero-fee transfers with sub-second finality. The platform is EVM-compatible, allowing developers to leverage existing Ethereum tools for easy integration.
“Payments infrastructure globally is outdated, failing to meet the demand for fast, secure digital transactions. Our stablechain, powered by USDT, addresses these pain points, making stablecoin payments as effortless as traditional banking for businesses and users worldwide.”
Said Joshua Harding, Stable’s Founder and CEO
The raise aligns with the recent passage of the GENIUS Act in the U.S., which provides regulatory clarity for stablecoin payments and encourages institutional adoption.
“The U.S. is shifting toward a supportive framework for digital assets,” said Paolo Ardoino, CEO of Tether and CTO of Bitfinex. Stable is poised to capitalize on this, unlocking USDT’s potential for mainstream finance.”
Stable’s roadmap for 2025 outlines three phases: Phase 1, already underway, establishes USDT as the native gas token with sub-second block times. Phase 2 will introduce transfer aggregators and guaranteed blockspace for enterprises, while Phase 3 will deliver speed upgrades and developer-focused SDKs to support decentralized applications. The mainnet is slated to launch between Q3 and Q4 2025.
Backed by Bitfinex’s early incubation and a robust investor coalition, Stable aims to redefine stablecoin utility, focusing on real-world use cases like remittances and payments. The project’s vision is to make USDT transactions as seamless as cash, bridging traditional and digital finance.
