The Tether-backed Stable protocol has unveiled its USDT-powered blockchain, StableChain, along with a new governance foundation and native token.
The protocol states that the new layer-1 network is designed specifically for stablecoin transactions, utilizing Tether’s USDt (USDT) for gas fee payments, eliminating the reliance on volatile assets for processing payments.
In conjunction with the mainnet launch, Stable also introduced the Stable Foundation and the STABLE governance token on Monday, effectively decoupling network security from payment flows settled in USDT.
This rollout comes after a pre-deposit campaign that attracted over $2 billion from more than 24,000 wallets, as well as a $28 million seed funding round supported by Bitfinex, Hack VC, and other investors, including Tether CEO Paolo Ardoino, who is also listed as an adviser to the initiative.
The launch enhances the stablecoin infrastructure footprint of Bitfinex and Tether, which share the iFinex parent company, and broadens USDT’s role as a foundational element of the network’s architecture.
Brian Mehler, CEO of Stable, shared with Cointelegraph that the company has “maintained regular communication with governing bodies overseeing the implementation of stablecoin and payment guardrails globally.”
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The expanding role of stablecoins in digital payments
The emergence of stablecoins—digital tokens intended to maintain a stable value, typically pegged to the US dollar—has prompted banks, payment firms, and remittance providers like Western Union to explore innovative strategies.
However, many stablecoins still operate on blockchains not optimized for rapid, low-cost payments. For instance, Ethereum, which hosts a majority of stablecoin supply, can take roughly three minutes to finalize transactions.
These limitations have fueled interest in blockchains specifically engineered for stablecoin settlement.
In February, the stablecoin startup Plasma secured $24 million to develop a new blockchain for USDT, led by Framework Ventures and supported by Bitfinex, Peter Thiel, and Tether CEO Paolo Ardoino. Plasma’s mainnet beta launched on Sept. 25, alongside its native XPL token.
In August, Circle revealed plans to introduce Arc, an EVM-compatible layer-1 blockchain focused on enterprise-grade stablecoin payments, FX, and capital markets, set to launch later this year.
The subsequent month, payment giant Stripe announced its intention to create a new layer-1 network named Tempo, after CEO Patrick Collison mentioned that existing blockchains are “not optimized” for the increasing stablecoin and crypto activity on Stripe’s platform.
According to data from DefiLlama , the stablecoin market capitalization has surged to approximately $308.45 billion, up from $198.76 billion a year prior, marking a 55% increase over this timeframe.
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