XPL Token Sale Raises $500M, Signaling Strong Appetite for Stablecoin Exposure

Plasma Secures $500M in Oversubscribed Token Sale Amid Stablecoin Infrastructure Boom

Plasma, a blockchain startup building a Bitcoin-linked stablecoin platform, raised $500 million in a public token sale Monday—10x its original fundraising target—highlighting the accelerating investor demand for projects tied to the stablecoin economy.

The sale, conducted via the Sonar platform developed by Echo, was fully subscribed in under five minutes, according to on-chain data from Arkham Intelligence. More than 1,100 wallets took part, with the median allocation hovering near $35,000, Plasma disclosed in a post on X.

The raise follows the blockbuster IPO of stablecoin giant Circle (CRCL) last week, whose stock has soared nearly 4x, reinforcing investor enthusiasm for projects supporting fiat-pegged digital currencies. “The people want exposure to stablecoins,” noted analyst Will Clemente following the Plasma announcement.

Bitcoin + Stablecoins: Plasma’s Value Proposition

While most stablecoin activity currently flows through Ethereum, Tron, and Solana, Plasma aims to bring stablecoin functionality to Bitcoin by launching an EVM-compatible sidechain anchored to Bitcoin’s security. The network will support zero-fee transactions for Tether (USDT) and address long-standing issues like high fees and throughput limits on competing chains.

Plasma’s rapid raise signals that demand is shifting not only toward stablecoins themselves, but toward the infrastructure enabling scalable, secure usage of dollar-linked tokens across blockchains.

With stablecoins now accounting for over $250 billion in total supply and growing usage in payments and remittances, investor focus is rapidly expanding from centralized issuers to next-generation platforms that promise to optimize where and how stablecoins function.