The emerging public chain Plasma is actively preparing for its mainnet launch this summer, focusing on the payment sector and establishing a depth partnership with Tether. Plasma's CEO Paul Faecks revealed the project's three core application directions:



First, Plasma will build a compliant funding channel, allowing users to conveniently exchange between fiat currency and USDT. Second, Plasma is collaborating with the well-known DeFi platform AAVE to develop a customized lending protocol that allows users to use native wrapped Bitcoin as collateral to borrow USDT. Finally, Plasma plans to work with Web2 payment companies to create a connectivity layer and has already partnered with institutions such as the African fintech company Yellow Card.

Plasma's strategic focus is on three major application scenarios for stablecoins: savings, consumption, and cross-border transfers. It is worth noting that Plasma has previously completed two rounds of financing, totaling up to $500 million, and investors are required to undergo a strict KYC (Know Your Customer) process.

The emergence of this new public chain not only brings new possibilities to the digital asset payment field but also provides more imaginative space for the application scenarios of stablecoins. With the mainnet set to launch soon, the industry is widely concerned whether Plasma can stand out in the fiercely competitive blockchain payment market and offer users a higher quality and more convenient payment experience.
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GateUser-4745f9cevip
· 12h ago
It's interesting. Can KYC be done well?
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Xavi1vip
· 08-10 05:13
500 million USD to do this? What a waste of money.500 million USD to do this? What a waste of money.500 million USD to do this? What a waste of money.500 million USD to do this? What a waste of money.
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BearMarketBarbervip
· 08-10 03:35
The 500 million dollar sucker harvesting machine is coming again.
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OvertimeSquidvip
· 08-09 05:49
500 million USD to do this? What a waste of money.
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Ramen_Until_Richvip
· 08-09 05:41
Another Musk new project
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