USDT-based blockchain 'stable' attracts $28 million in investment

Stable, a Layer 1 (L1) blockchain specialized in financial transactions based on USDT, announced on the 18th that it has raised a seed investment of $28 million (approximately 38.824 billion won).

This investment round was jointly led by global virtual asset exchange Bitfinex and venture capital firm Hack VC. Global investment firms such as Franklin Templeton and Castle Island Ventures also participated. Key industry figures including Paolo Ardoino, CEO of Tether, Brian Johnson, founder of Braintree, Nathan McCauley, CEO of Anchorage, and Gabriel Abbed joined as angel investors and advisors.



Stable plans to invest the secured funding in network infrastructure enhancement, workforce expansion, and global USDT distribution. Additionally, they aim to sequentially implement a three-stage roadmap by the end of this year, including △introducing USDT native gas token and block confirmation within less than a second △providing USDT transfer aggregator and enterprise-specific guaranteed block space △offering developer tools to improve speed and activate decentralized application (dApp) ecosystem.

Stable aims to create a fast and stable payment environment based on the 'Stablechain' structure that uses USDT as a native gas token. This is designed to enable both businesses and individuals to easily utilize stablecoin payments.

Joshua Harding, CEO of Stable, said, "The global payment infrastructure needs innovation in terms of speed, reliability, and security," and "Stable will solve the limitations of existing payment networks by providing instant and smooth payments by leveraging the potential of USDT."

Paolo Ardoino, CEO of Tether and CTO of Bitfinex, emphasized, "The United States is transitioning from a litigation-centered approach to clear regulations for digital assets and stablecoins," and "Stable, which is already ahead in infrastructure and roadmap, is in the optimal position to lead USDT popularization."

Reporter Do Ye-ri