TechFlow News, February 13 — According to Fortune Crypto, Plasma, a project focused on stablecoin infrastructure, has raised $24 million in its first funding round. The round was led by Framework Ventures, with participation from Bitfinex exchange, prominent venture investor Peter Thiel, and Tether CEO Paolo Ardoino. Plasma plans to launch its blockchain network in early Q2 this year, which will support feeless Tether transactions.
Plasma co-founder Paul Faecks said the project is built on the Bitcoin blockchain and uses a unique consensus mechanism designed to optimize stablecoin transaction efficiency, supporting DeFi protocols such as Curve, Ethena, and Aave.
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