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Plasma

Bitcoin-backed sidechain enabling fast digital transfers

Overview

Plasma builds a Bitcoin-backed sidechain to move money in the digital era. It uses Bitcoin’s security by settling all transactions on the Bitcoin blockchain, while allowing fast and cheap transfers with support for stablecoins and other digital assets. The product connects Bitcoin’s reliability with flexible, modern finance to enable cross‑border payments, digital asset management, and blockchain-enabled operations. Compared with other solutions, Plasma emphasizes security and decentralization through Bitcoin settlement, making it easier to use cryptocurrency without high volatility while still delivering scalable and global transaction capabilities. Its goal is to provide a secure, efficient infrastructure that bridges Bitcoin with decentralized finance, fostering broader financial inclusion and adoption.

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About Plasma

Simplify's Rating
Why Plasma is rated
C+
Rated B on Competitive Edge
Rated B on Growth Potential
Rated D+ on Differentiation

Industries

FintechCrypto & Web3Financial Services

Company Size

51-200

Company Stage

ICO

Total Funding

$524M

Headquarters

London, United Kingdom

Founded

2024

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What believers are saying

  • Plasma raised $74 million and launched Plasma One with 10%+ advertised yields.
  • Veda integration drives earning, spending, and auto-compounding around USDT balances.
  • Stripe partnership expands Plasma's distribution across 30+ countries and more currencies in 2027.

What critics are saying

  • FinCEN cut off MEXC Global on November 6, 2026, disrupting Plasma deposit flows.
  • Plasma still lacks published user numbers, masking real traction behind fundraising headlines.
  • USDT issuer freezes and card-network compliance can strand balances; one regulatory shock kills adoption.

What makes Plasma unique

  • Plasma One bundles stablecoin banking, cards, and yield on its own L1.
  • Stripe chose Plasma as design partner for multi-currency stablecoin cards on October 15, 2026.
  • Plasma uses Bitcoin-linked settlement branding while targeting everyday spending across countries.

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Funding

Total Funding

$524M

Above

Industry Average

Funded Over

3 Rounds

Notable Investors:
Ico funding comparison data is currently unavailable. We're working to provide this information soon!
Ico Funding Comparison Coming Soon

Benefits

  • Health Insurance
  • Wellness Program
  • Gym Membership
  • Relocation Assistance

Growth & Insights and Company News

6 month growth

3%

1 year growth

8%

2 year growth

12%
GlobeNewswire
Oct 15th, 2026
Stripe and Plasma co-develop a new multi-currency card experience.

Stripe and Plasma co-develop a new multi-currency card experience. Plasma joins as design partner as stablecoin cards expand beyond the dollar, supporting EUR, BRL, MXN and COP across 30+ countries. October 15, 2026 09:20 ET | Source: Plasma San Francisco, Oct. 15, 2026 (GLOBE NEWSWIRE) - Stripe and Plasma today announced a collaboration to launch multi-currency stablecoin cards, making it easier for people and businesses to spend across currencies and markets. Built in close partnership with Plasma as a design partner, the aim is to make everyday spending simpler. Cardholders will be able to use the currencies they already hold, reduce unnecessary conversions and FX costs, and spend abroad as easily as they spend at home. Plasma is building the financial account for people whose lives span countries, assets and businesses, starting with everyday spending. As a design partner, Plasma will work with Stripe to shape a multi-currency card experience around how these customers manage and use their money across borders. "We're building Plasma for people whose lives and finances span countries. Partnering with Stripe gives us the opportunity to develop multi-currency cards around how those people actually live and spend, with a simple ambition: spend like a local, anywhere."- Paul Faecks, CEO of Plasma "Stablecoins make it possible to hold and move money globally. We're working with Plasma to bring that same flexibility to spending, giving businesses the infrastructure to offer cards across currencies and markets without having to build it themselves." - Henri Stern, Head of Stripe Crypto and Cofounder & CEO of Privy Stripe is expanding its stablecoin card infrastructure to support more currencies and stablecoins, giving businesses greater flexibility to build card products for customers operating across markets. The expanded capabilities will support: * Fiat currencies: USD, BRL, EUR, MXN, and COP * Stablecoins: OUSD and eligible GENIUS-ready stablecoins * Markets: Available in 30+ countries today, with plans to expand to 100+ countries in 2027 A cardholder holding euros, for example, will be able to spend directly in euros without converting through dollars first. Businesses operating across markets can issue cards denominated in currencies that match their spending needs, helping reduce unnecessary FX costs. The launch marks the first step toward a broader multi-currency experience. Stripe and Plasma are toward enabling cardholders to spend across multiple balances, with the appropriate currency selected automatically at the point of purchase. The partnership brings Stripe's fiat and crypto infrastructure and Plasma's product together to develop a card experience around how people live and spend across countries. With multi-currency support, people and businesses will be able to spend with stablecoin-backed cards across more currencies and markets. About Plasma Plasma is building the financial account for people whose lives span countries, assets and businesses. Its app, Plasma One, gives users a global dollar account and card for spending, sending and earning, starting with everyday spending. For more information, visit plasma.org About Stripe Stripe is building programmable financial services for millions of businesses globally. Millions of companies use Stripe to accept payments online and in person, embed financial services, power custom revenue models, and build a more profitable business. Headquartered in San Francisco and Dublin, Stripe processes over $1.9 trillion of payments annually, equivalent to 1.6% of global GDP. Stripe users include all of the top AI companies, 90% of the Dow Jones Industrial Average, and 88% of the Forbes AI 50. Through its scale and investments in R&D, particularly artificial intelligence and stablecoins, Stripe accelerates the utility of frontier technology in the global economy.

Veda
Jun 17th, 2026
Plasma One powers stablecoin Earn with Veda.

Plasma One powers stablecoin Earn with Veda. June 17, 2026 Plasma, the purpose-built blockchain for stablecoin payments, is scaling its integration with Veda to offer Earn for the new money app, Plasma One, that lets users save, spend, send, and earn all in one place. The Plasma One app is a reimagining of how money works today. Users can load up their accounts, send money fast with no fees, and earn up until the moment they spend. The frontend powers a seamless experience for users, while a Veda vault on the backend generates yield by allocating to stablecoin lending markets like Aave to compound account balances. The vault makes app balances productive, enabling growth without asking users to read code, sign transactions, or manage positions at any step in the process. Instead, a non-custodial Veda vault on the Plasma blockchain ensures users always stay in control of their funds. Plasma One and the corresponding Veda vault use Tether's USDT stablecoin, the largest stablecoin by market capitalization with over $186 billion in circulation. The vault supports a payments experience that feels instant for users, who can spend their stablecoin Earn balances like dollars with Plasma One Visa cards across 150 million merchants in 180+ countries. Users can choose from one of three card options, with up to 4% in base cashback rewards in addition to the stablecoin yield from the vault. Veda Tech Limited has been a day-one infrastructure partner for Plasma. Its versatile vault stack previously supported Plasma's pre-deposits campaign ahead of the blockchain's launch last year, which drove over $1 billion in liquidity to the new chain without any depositor action required. This campaign saw an all-time high of over $3 billion in deposits while facilitating a successful crosschain migration. Today, this vault still functions as a powerful onchain savings product for thousands of users. For Plasma One, Veda provides Plasma with the vault infrastructure needed to generate yield for user account balances while offering robust compliance, risk, and security controls. Users gain an easier way to earn and spend, while Veda's flexible vault design enables adaptive yield strategies, managing user deposits, withdrawals, onchain accounting, protocol allocation, autocompounding, and more.

The Block
May 12th, 2026
Sky Ecosystem leads $13.5 million round for Stablewatch-incubated stablecoin yield startup Osero

Osero, a stablecoin yield project incubated by Stablewatch, has raised $13.5 million in a funding round led by the Sky Ecosystem.

Associated Press
Apr 14th, 2026
Plasma appoints Zaheer Ebtikar as chief strategy officer ahead of stablecoin neobank launch

Plasma, a stablecoin-native neobank developer, has appointed Zaheer Ebtikar as chief strategy officer ahead of its Plasma One product launch. Ebtikar brings eight years of crypto markets experience, having founded hedge fund Split Capital and held senior roles at LedgerPrime, Deribit and Immutable Capital. Plasma One is positioned as the first stablecoin-native neobank, enabling users to spend, save and earn with stablecoins. The company is building a vertically integrated licensing and technology stack, acquiring regulatory licences in key markets to support lower costs and greater reliability. Ebtikar cited observing over-the-counter stablecoin transactions in Istanbul's Grand Bazaar as evidence that stablecoins are becoming fundamental to money movement. Chief executive Paul Faecks said Ebtikar's institutional credibility and market insight will be critical as Plasma moves towards product launch.

Coinspeaker
Sep 22nd, 2025
Plasma Raises $74M, Launches Neobank

Plasma launched a USDT-native neobank, Plasma One, offering 10%+ yields. The super-app allows direct stablecoin payments with fee-free transfers in 150 countries. Plasma raised $74 million at a $500 million valuation, with Bitfinex leading the Series A funding. USDT, the largest stablecoin, has a $172 billion market cap and $179 billion daily trading volume. Plasma One offers 4% cash back on card use and centers its operations around USDT.

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