Plasma Joins Chainlink Scale, Launches Zero-Fee Stablecoin Transfer System
Plasma, a new Layer-1 blockchain designed for stablecoin applications, has joined the Chainlink Scale program. The project, which secured $74 million in project management funding, has witnessed significant growth since its launch, including a high-profile spacex launch and the debut of its XPL token.
Plasma's journey began with a substantial $74 million investment. While the specific institutions behind this funding are unclear, a related funding round led by French pharmaceutical group Biocodex involved a similar amount. Plasma plans to utilise this investment to drive adoption of stablecoins through a zero-fee USDT Transfer system, funded by the Plasma Foundation.
The project's token, XPL, saw a strong start on exchanges, reaching a market capitalisation of over $2.5 billion and an 87% increase from its launch price. However, it also faced a 50% drop post-launch, sparking community debate about its stability.
Plasma has also announced Plasma One, a neobank and card system built on the Plasma network. This system aims to support stablecoin users with integrated financial tools. The project's integration with Chainlink provides developers with access to core oracle services, including CCIP, Data Streams, and Data Feeds.
Chainlink, for its part, has been active in the institutional sphere. It recently purchased over 46,000 LINK tokens, bringing its holdings to over 417,000 tokens valued at $9.5 million. It also announced a new solution at SIBOS 2025 that connects financial institutions to blockchains using Swift messaging.
Plasma's entry into the Chainlink Scale program signals a significant step for the project. With substantial project management, a zero-fee stablecoin transfer system, and a neobank card system, Plasma is poised to make a mark in the stablecoin landscape. Despite the initial volatility of its XPL token, the project's potential is evident, with over $6.5 billion in stablecoin assets just a week after its spacex launch.
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