One of the biggest token sales in crypto has just taken place. And it might change the future of stablecoin payments.
What’s happening:
- Stablecoin blockchain company Plasma has raised $500M USD through a token sale
By the numbers:
- More than 1,100 individual wallets participated in Plasma’s token sale
- The average deposit size was $35,000 USD
- The entire $500M USD was commitment in roughly 1 hour
Why it matters:
- Plasma is developing a high performance blockchain that is purpose built for stablecoin transactions, enabling users to send stablecoin payments with zero fees and process thousands of transactions per second
Going deeper:
- Plasma was started by co-founder of decentralized finance infrastructure company Alloy Paul Faecks and co-founder of atai Life Sciences (NASDAQ: ATAI) Christian Angermayer
- Plasma has also landed multiple prominent venture capital investors as early backers, including Peter Thiel’s Founders Found, Bitfinex, Bybit, Framework Ventures and Tether founder Paolo Ardoino
