Stable, a cryptocurrency startup focused on USDT, has recently secured $28 million in seed funding in a round led by Bitfinex and Hack VC. This investment will enable Stable to develop a native blockchain dedicated to USDT, with the goal of creating a more efficient and seamless ecosystem for the stablecoin.

USDT, or Tether, is one of the most widely used stablecoins in the cryptocurrency market. It is designed to maintain a 1:1 peg with the US dollar, providing users with a stable digital asset for trading and transferring value. However, USDT's operation on existing blockchains has presented challenges, as these networks were not specifically built to support its unique requirements.

By building a native blockchain for USDT, Stable aims to address these issues and create a more optimized environment for the stablecoin's usage. This new blockchain will serve as the financial infrastructure for USDT, offering improved scalability, speed, and security for transactions involving the stablecoin.

The funding round, with Bitfinex and Hack VC at the helm, highlights the industry's confidence in Stable's vision and technological capabilities. Bitfinex, a prominent cryptocurrency exchange, is known for its support of innovative projects in the blockchain space. Hack VC, a venture capital firm specializing in blockchain investments, brings expertise and resources to help propel Stable's development efforts forward.

Stable's initiative to build a dedicated blockchain for USDT aligns with the growing demand for efficient and reliable stablecoin solutions in the crypto market. As the use of stablecoins continues to rise for various financial applications, having a robust infrastructure specifically tailored for USDT can enhance the stability and utility of the token.

With the newly raised funds, Stable plans to accelerate the development of its native USDT blockchain, focusing on enhancing its core features and functionality. The company aims to create a seamless ecosystem that enables real-world usage of USDT, further expanding its adoption and utility across different industries and use cases.

Overall, the successful seed funding round for Stable signifies a significant milestone in the evolution of USDT and the broader stablecoin ecosystem. By building a dedicated blockchain for USDT, Stable is poised to revolutionize the way this popular stablecoin operates, paving the way for a more efficient and effective digital asset infrastructure.

Source: https://news.bitcoin.com/stable-secures-28m-to-bring-a-native-usdt-blockchain-to-life/