Stable, a new blockchain startup focused on improving stablecoin transactions, has raised $28 million in a seed funding round led by Bitfinex and Hack VC.
The funding will be used to develop Stablechain, a new layer-1 blockchain designed specifically for stablecoins like Tether’s USDT. The company’s goal is to create a more efficient and cost-effective infrastructure for stable digital payments.
Solving Stablecoin Transfer Challenges
Traditional blockchains often struggle to handle stablecoin payments efficiently due to high fees and slow transaction times. Stablechain is being designed to fix these issues by offering a blockchain optimized specifically for stablecoins.
According to Stable, current platforms are too general-purpose to meet the growing needs of digital dollar users, especially in emerging markets where stablecoins are used for daily transactions.
By focusing on a purpose-built blockchain infrastructure, Stable hopes to deliver faster and cheaper stablecoin transfers, starting with Tether. The company believes this can unlock new use cases for businesses and individuals relying on stable digital assets for everyday financial services.
Backed by Major Investors and Industry Figures
In addition to Bitfinex and Hack VC, the round saw participation from Franklin Templeton, eGirl Capital, Mirana, Castle Island Ventures, Susquehanna International Group, Nascent, and Blue Pool Capital. Notable individual investors include Bryan Johnson, founder of Braintree, and Divesh Makan from Iconiq Capital. Both have joined as angel investors and advisors.
Stable was incubated by Bitfinex and began raising funds in June, closing the round in July. This strong financial backing highlights a growing demand for blockchain solutions tailored to the unique needs of stablecoins, which now represent a major part of crypto transaction volume.
Regulatory Momentum Adds Confidence
The announcement comes shortly after the U.S. passed the GENIUS Act, a law that provides clearer rules for stablecoin regulation and encourages banks to build infrastructure for digital payments. This marks a shift from past enforcement-driven policies to a more structured and open regulatory framework.
Tether CEO and Bitfinex CTO Paolo Ardoino commented that such regulatory clarity allows institutions to confidently support stablecoin-related services, paving the way for wider adoption.