Plasma Secures $3.5 Million in Funding on October 18, 2024

According to industry reports, Plasma raised $3.5 million in funding on October 18, 2024. The investment round was backed by Bitfinex, Karatage, Manifold Trading, Anthos Capital, Split Capital, and Christian Angermayer, among others. Following this round, Plasma’s total cumulative funding reached $77.5 million.Plasma is a Layer 1 blockchain specifically designed for global stablecoin payments. The project integrates high throughput, native stablecoin functionalities, and full EVM compatibility, providing developers with robust infrastructure for building next-generation payment and financial applications. Key features include customizable gas tokens, zero-fee USDT transfers, and privacy-focused payment innovations.In line with its development roadmap, Plasma achieved several significant milestones following the latest funding round. In July 2025, the project successfully launched its testnet and introduced a public sale for the XPL token along with a detailed tokenomics plan. On the ecosystem front, Plasma has established partnerships with leading industry players, such as collaborating with Rain Cards to issue crypto payment cards and teaming up with Aave to launch institutional funds aimed at the global financial system. Notably, major exchanges have rolled out fixed-term Plasma USDT products, with the first depositors eligible for a 1% allocation of protocol tokens—underscoring growing market recognition for the project.These developments demonstrate that Plasma is steadily building its ecosystem in the blockchain payments sector, committed to delivering more efficient and convenient stablecoin payment solutions for users worldwide.