Plasma has announced the beta launch of its Layer-1 blockchain, designed primarily to enhance stablecoin payments and expand decentralized finance applications. The launch also introduced the platform’s native XPL token, signaling a new chapter for the project. This milestone followed a major fundraising event earlier in the year, where Plasma secured $500 million through its initial coin offering. In addition, the team delivered an unexpected bonus to its early supporters.
The market responded strongly to the XPL debut, as the token initially reached $1.54, reflecting significant enthusiasm. It has since adjusted to $0.91, giving the project a fully diluted valuation of $8.6 billion. This figure represents a sharp rise from its initial $500 million valuation at the ICO stage, amounting to more than a seventeen-fold increase.
Surprise allocation for ICO pre-depositors
Plasma revealed that every participant in its pre-deposit ICO program received XPL tokens valued at $8,390 each, regardless of whether they went on to purchase tokens during the sale. A total of 25 million tokens were distributed under this scheme, valued at approximately $25.5 million at current prices. This gesture has been widely noticed across the digital asset sector, with many industry observers viewing it as a strong statement of appreciation towards the project’s early backers.
Company leadership emphasized that the blockchain’s launch was only an initial step in a broader roadmap. Plasma’s chief executive, Paul Faecks, explained that the platform was conceived as a hub for what the company envisions as Money 2.0, hinting at a broader mission to reshape financial systems around stablecoin infrastructure.
Building a stablecoin-first blockchain
The Plasma blockchain is structured as a Layer-1 network dedicated to stablecoin transactions. It incorporates a staking-driven consensus model powered by the XPL token, which the company argued was particularly suited to high-volume, low-volatility financial flows associated with stablecoins. With this structure, Plasma aims to position itself as a backbone for the next wave of decentralized finance, where stablecoins are expected to play a central role in payments, lending, and cross-border settlements.
Mainnet beta is here.
This is the culmination of our team putting everything they had into making Plasma the perfect home for Money 2.0. The launch of our mainnet is just the beginning.
Trillions. https://t.co/ORaJCGfP5a
— Paul (@pauliepunt) September 25, 2025
Launch of Plasma One neobank
Alongside the blockchain debut, the project introduced Plasma One, a digital-first banking service built for stablecoin users. The service intends to integrate directly with Plasma’s infrastructure to support seamless payments while providing incentives such as a 4% cashback on purchases made through the platform. By embedding its blockchain into financial products, Plasma seeks to demonstrate the everyday utility of stablecoins in consumer and commercial transactions.
Support from high-profile advisors
The project has attracted attention from prominent figures in the crypto and fintech industries. Among them are Paolo Ardoino, head of Tether, and Peter Thiel, PayPal’s co-founder, who are both involved as advisors. Their engagement highlights the ambition of Plasma’s roadmap and suggests confidence in its ability to become a significant force in reshaping stablecoin usage within decentralized finance.
Market participants are now monitoring the next steps as Plasma begins its expansion phase. With its blockchain live, its token trading, and new financial services emerging, the project is positioning itself to redefine how stablecoins are used and integrated into both DeFi ecosystems and mainstream finance.