Plasma Launches With $2B in Stablecoins and XPL Token Soars 52%

Plasma, a blockchain purpose-built for stablecoin transactions, officially launched its mainnet beta and native token XPL on September 25, immediately positioning itself as the eighth-largest blockchain by stablecoin liquidity with $2 billion worth of stablecoins deployed at launch.

The new global financial system is here. pic.twitter.com/pkpXia30FS
— Plasma (@PlasmaFDN) September 25, 2025

The project has attracted significant institutional confidence, backed by Tether, the world’s largest stablecoin issuer, and Peter Thiel’s Founders Fund.

Plasma Expanding With Top DeFi Protocols

At launch, Plasma rolled out liquidity across more than 100 DeFi partners, including major protocols such as Aave, Ethena, Fluid, and Euler. Its network integrates PlasmaBFT, a high-throughput consensus layer designed exclusively for stablecoin flows, and enables free USDT transfers via an approval-based transaction system.

According to Plasma’s foundation, the network also supports cross-chain withdrawals of USDT0, a tokenized version of USDT, marking the completion of its beta stage and moving closer to full-scale adoption. Plasma’s long-term mission is to serve as the digital rails for the “dollar on-chain”, connecting to physical P2P cash networks and broadening merchant adoption worldwide.

Binance and Chainlink Boost Adoption

Strategic partnerships have accelerated Plasma’s growth. Binance, one of the largest crypto exchanges, integrated Plasma USDT into its Earn product suite through Aave’s lending protocol, granting its 280 million users access to new yield opportunities.

Meanwhile, Chainlink confirmed compatibility with its cross-chain interoperability protocol and oracle feeds, strengthening Plasma’s infrastructure. Tether also revealed that USDT0 and XAUT0 are already live on Plasma, making it the leading chain by circulating USDT0 supply.

XPL Token Surges 52% After Launch

Plasma’s native token XPL saw immediate demand, surging 52% from $0.83 to $1.26 within 24 hours of launch. Trading volume skyrocketed 18,000% in the same period, pushing its market cap to $228 million.

Founder Paul Fax emphasized that Plasma is targeting markets where access to U.S. dollars is limited and demand for stable assets is high, aiming to become the core infrastructure layer for stablecoins and tokenized assets.