Stable Raises $28 Million in Seed Funding Round, Led by Bitfinex and Hack VC

BlockBeats News, July 31st, according to CoinDesk, a new blockchain project built around Tether's USDT, Stable, announced the completion of a $28 million seed funding round. The round was led by Bitfinex and Hack VC, with participation from investors such as Franklin Templeton, Castle Island Ventures, KuCoin Ventures, as well as Tether's CEO Paolo Ardoino and Braintree's founder Bryan Johnson.

The Stable blockchain aims to use USDT as the underlying gas token to build a fast, low-cost stable payment network. Its roadmap consists of three phases: the first phase will enable USDT payment for gas fees and sub-second block confirmations; the second phase will provide block space guarantees for enterprise payments; the third phase will focus on developer tools and performance upgrades.