The stablecoin platform Plasma has raised $500 million through the issuance of XPL tokens and has reached a partnership with Aave.

Gate News bot news, the blockchain platform Plasma, focused on stablecoin infrastructure, raised $500 million through its XPL token issuance and established a strategic partnership with DeFi giant Aave.

The collaboration with Aave will enable Plasma to integrate the lending and liquidity infrastructure of this DeFi protocol, distributing USDT to global institutional clients and underserved markets. At launch, Plasma will also support Aave's native stablecoin GHO.

Plasma confirmed that its network has partnered with Aave to operate, allowing participants in its deposit program to earn real benefits directly through the protocol.

Plasma operates as a Bitcoin sidechain, fully compatible with the Ethereum Virtual Machine (EVM), designed to enhance speed and efficiency.

According to its official documentation, the platform is positioned as a high-performance settlement layer and is optimized for free USDT transfers and cross-border payments. In addition, the platform is also committed to simplifying global remittances and Decentralized Finance services.

The XPL Token of Plasma will become the native currency of the network, supporting transactions and governance.

Source: CryptoSlate