The cryptocurrency world is constantly evolving, and in this context, stablecoins are increasingly asserting their position as a solid bridge between traditional and decentralized finance. Now, specialized Layer1 blockchains for stablecoins are gearing up with ambitious moves, promising to usher in a new era for digital payments and decentralized finance (DeFi). Join us as we explore the hot news from Plasma and Stable – two names making big waves!
Plasma One: A Potential Digital Bank Revolutionizing Stablecoin Spending & Savings
The first prominent news comes from Plasma – a Layer1 preparing for its mainnet launch on September 25th. Not stopping at just launching its blockchain, Plasma is also attracting strong attention with the announcement of its highly promising Plasma One Digital Bank.
With access to over $2 billion in liquidity from more than 100 DeFi partners, Plasma One is not just an ordinary digital bank but also a highly promising stablecoin payment and savings gateway. This platform offers outstanding benefits that few can ignore:
- 4% cashback when spending with the Plasma One card – an extremely attractive cashback rate, turning every daily transaction into an earning opportunity.
- Over 10% interest for stablecoins with no lock-up requirements. This is a major breakthrough, especially when compared to the current interest rate Plasma offers for USDT on Binance (2%). It promises significant passive income for users.
- The Plasma One card is issued by Rain (the well-known entity behind the Avalanche Card), ensuring reliability and widespread usability in over 150 countries worldwide.
The advent of Plasma One is not only good news for the stablecoin community but also an affirmation of the immense potential of specialized Layer1s in bringing DeFi closer to everyday life, opening the door to easier and more efficient financial access for everyone.
Stable & PayPal: A Strategic Alliance Elevating PYUSD Payments
In another equally important development, Stable – a Layer1 backed by the giant Tether and also specializing in stablecoins – has forged a historic partnership with PayPal. This collaboration marks a significant step forward in integrating PayPal’s PYUSD stablecoin into on-chain transactions.
This agreement is a “win-win” transaction, bringing value to both parties:
- Stable will integrate PYUSD for transactions on its blockchain, expanding the utility and accessibility of this stablecoin within the decentralized ecosystem.
- In return, PayPal Ventures – PayPal’s venture capital arm – will participate in Stable’s latest funding round, demonstrating strong confidence in the platform’s growth potential and a shared vision for the future of digital payments.
Beyond that, both parties are committed to continuing research and development of new products revolving around stablecoins and payments. In particular, PYUSD will be expanded to other blockchains such as Tron, Avalanche, Sei, and many other potential chains, solidifying its position in the stablecoin space and accelerating widespread adoption.
The collaboration between Stable and PayPal is not just a positive signal for the two projects alone but also proof that traditional financial institutions are increasingly recognizing and harnessing the potential of blockchain technology and stablecoins, moving towards a more transparent and efficient financial future.
Conclusion
The recent moves from Plasma and Stable are just the beginning of a fierce and promising race in the stablecoin-specialized Layer1 segment. With Plasma One offering a groundbreaking DeFi digital banking experience and the Stable-PayPal alliance expanding PYUSD payments, we are witnessing a powerful convergence between traditional and decentralized finance. This not only creates many new opportunities for users but also reshapes the future of global payments and finance, promising a highly potential era for stablecoins.
