Two of a Kind: What’s the Difference Between the Stablecoin Networks Plasma and Stable?

June 2025 witnessed the debut of two blockchain projects, Plasma and Stable, both targeting the stablecoin market. Plasma emerged with a bang, securing $1 billion in its initial blockchain offering, backed by prominent crypto figures and funds. Stable, meanwhile, remains shrouded in mystery, though its alleged ties to Tether’s ecosystem have piqued interest.

Plasma’s fundraising success underscores institutional confidence, with 177 investors committing over $1 million each. Stable’s lack of transparency contrasts sharply, yet its potential integration with Tether suggests ambitious underlying technology.

Both projects aim to address stablecoin scalability and efficiency, but their approaches diverge. Plasma’s capital-heavy launch positions it as a market heavyweight, while Stable’s stealth mode hints at a more niche, technical focus. The race to dominate stablecoin infrastructure is heating up.