Stable, a layer 1 blockchain network powered by USDT and designed to achieve seamless financial transactions through stablecoins, announced the closing of its $28 million seed funding round led by Bitfinex & Hack VC, with participation from Franklin Templeton, Castle Island Ventures, eGirl Capital, Bybit-Mirana, Susquehanna Crypto, Nascent, Blue Pool Capital, BTSE, and KuCoin Ventures. Notable angel investors and advisors include Paolo Ardoino of Tether, Bryan Johnson of Braintree, Nathan McCauley of Anchorage, and Gabriel Abed. Bitfinex is one of the early investors and has played a key role in incubating Stable from the start.
Stable’s funding, following its emergence from stealth, aims to expand infrastructure, grow staff, and boost USDT distribution worldwide. Its unique “stablechain” offers seamless, instant transactions amid rising stablecoin adoption after the GENIUS Act’s passage.
This legislation provides clear regulations for stablecoin payments and guides banks and financial institutions to accelerate digital payments. Positioned within a market backed by U.S. government support, Stable’s alignment with USDT, the largest stablecoin, is set to promote adoption among institutions and retail users.
The company’s 2025 roadmap includes three phases: establishing USDT as the network’s foundation with fast, final transactions; introducing USDT transfer aggregators and enterprise blockspace; and adding speed upgrades, developer tools, and dApp resources.
KEY QUOTES:
“Payments infrastructure around the world needs an overhaul, and traditional methods have failed to achieve fast, reliable, and secure digital payments despite massive demand from consumers across the globe. Stable was developed to take advantage of the potential behind stablecoins like USDT to offer instant and seamless payments, directly addressing problems with current payment rails. The support we have received from major investors in both crypto and traditional finance shows that they share our vision, one that we are incredibly excited to work alongside them to make a reality.”
Joshua Harding, Founder and CEO of Stable
“It is clear that the US is undergoing a complete 180 in terms of its approach to digital assets and stablecoins, moving from the ‘enforcement by lawsuit’ approach under the previous administration towards providing clear rules of the road for institutions. Now, major financial institutions and banks will be able to fully unleash the power behind assets like USDT, something the Stable team fundamentally understands and is exceptionally poised to capitalize on. They are very advanced in terms of their infrastructure and roadmap, making them well positioned to bring USDT into the mainstream.”
Paolo Ardoino, CEO of Tether and CTO of Bitfinex
