Stablecoin Networks Overview
Its the race to being the most dominant financial rails of the future.
Stablecoins are poised to become the foundational rails of future finance due to their ability to enable programmable, instantaneous, and borderless transactions on 24/7 global networks, outpacing traditional systems bogged down by intermediaries and volatility.
Reports from McKinsey highlight that stablecoins could drive daily transaction volumes to at least $250 billion within three years, transforming payments infrastructure by tokenizing cash for next-generation use cases like remittances and cross-border settlements.
A key advantage lies in cost efficiency: traditional cross-border payments via systems like SWIFT often incur fees of 1-3% per transaction and take 3-5 days to settle, whereas stablecoin transfers on blockchains can cost as little as $0.01 or less with settlement in seconds, potentially reducing expenses by up to 90% according to analyses from the Bank for International Settlements and fintech firms like Transfi.
The total addressable market (TAM) for stablecoins is projected to expand significantly, with MetaTech Insights forecasting growth to $1.1 trillion by 2035 at a compound annual growth rate (CAGR) of 17.8% from 2025, while J.P. Morgan estimates a more conservative $500 billion market cap by 2028, underscoring massive potential amid current supplies around $239 billion.
This momentum is further bolstered by an improving regulatory environment, exemplified by the U.S. GENIUS Act signed into law in July 2025, which establishes a unified federal and state framework for stablecoin issuance, imposing safeguards on reserves, liquidity, and oversight to foster innovation while ensuring compliance and stability for issuers like nonbanks.
Overview of Stablecoin Blockchains
In 2025, the cryptocurrency landscape has seen a surge in specialized blockchains designed explicitly for stablecoins. These "stablecoin chains" aim to address the growing demand for efficient, low-cost, and secure transactions involving stable assets like USDT, USDC, and synthetic dollars. They often integrate native support for stablecoins as gas tokens, focus on payments, foreign exchange (FX), and real-world asset (RWA) tokenization, and cater to both retail and institutional users. This trend is driven by the maturation of stablecoins, which now underpin trillions in on-chain volume, and regulatory green lights that encourage innovation. Major players like Circle (USDC issuer) and Tether (USDT issuer) are backing multiple projects, creating a competitive dynamic between their ecosystems. The rise of these chains reflects a shift toward vertical integration in crypto finance, where blockchains are optimized for stability rather than general-purpose DeFi or NFTs.
Here are 7 stablecoin networks that have been recently announced:
Arc by Circle
Arc is a new Layer-1 blockchain launched by Circle, the issuer of USDC, to serve as a dedicated platform for stablecoin finance. Announced on August 12, 2025, amid Circle's Q2 earnings report (which showed a $428 million loss but strong revenue growth), Arc represents Circle's push into blockchain infrastructure to complement its stablecoin dominance.
The project integrates Malachite, a team acquired by Circle, to build out its capabilities. Technologically, Arc is EVM-compatible, allowing seamless integration with Ethereum tools and dApps, and uses USDC as its native gas token for transactions.
This design enables sub-second settlement times, making it ideal for enterprise-grade stablecoin payments, FX, and capital markets applications. Key features include on-chain perpetual futures for stablecoin pairs (e.g., USDC/EURC for FX trading), institutional security standards, and support for high-throughput payments without volatility risks.
Arc is purpose-built to bridge traditional finance (TradFi) and DeFi, with a focus on compliance and scalability. It has not yet launched but is slated for later in 2025, positioning it as a direct competitor to Tether-backed chains in the stablecoin payments race.
Codex by Codex PBC
Codex, developed by Codex PBC, is an EVM-compatible Layer-1 blockchain tailored for business-to-business (B2B) stablecoin transactions and on-chain FX.
Emerging from stealth in April 2025 with a $16 million seed round led by Dragonfly Capital (contributing $14 million), and supported by Circle Ventures, Coinbase Ventures, and others,
Codex emphasizes a full-stack, stablecoin-native ecosystem to drive mainstream adoption.
Its technology stack includes native integration with USDC and Circle's Cross-Chain Transfer Protocol (CCTP) V2, enabling fast, low-cost cross-chain transfers.
Codex uses a custom consensus mechanism optimized for stablecoin throughput, with features like streamlined FX settlements, institutional-grade custody, and zero-knowledge proofs for privacy in enterprise dealings. The mainnet launched in June 2025, shortly after the funding announcement, and has since focused on reviving crypto's payments use case by supporting high-volume, compliant transactions.
Backed heavily by Circle's ecosystem, Codex targets enterprises seeking efficient stablecoin rails, with early integrations for DeFi protocols and payment processors. Its equity-and-token-warrant funding model underscores investor confidence in stablecoin growth, though it faces competition from more generalized chains.
Plasma by Plasma Foundation
Plasma, operated by the Plasma Foundation, is a Layer-1 blockchain optimized for stablecoin transactions, with strong backing from Tether (USDT issuer) and Bitfinex.
Announced in early 2025, Plasma raised over $75 million in funding, including a $24 million round from Framework Ventures in February and a staggering $500 million ICO that filled instantly in June.
Anchored to Bitcoin for security via merged mining or similar mechanisms, Plasma uses USDT as its gas token, enabling near-instant, fee-free payments with institutional-grade safeguards. Its technology stack prioritizes scalability for high-volume transfers, supporting DeFi integrations like partnerships with Aave for institutional lending.
Features include zero-fee USDT transactions, RWA tokenization, and a focus on global fintech adoption, addressing the "Chain-DeFi-B2C" disconnect.
Launched in mid-2025, Plasma has positioned itself as a frontrunner in the stablecoin race, leveraging Tether's liquidity (trillions in volume) to challenge Tron's dominance in USDT usage. Critics note potential centralization risks due to Tether's influence, but its Bitcoin anchoring provides robust trust.
Stable (Backed by Tether)
Stable is a Layer-1 blockchain explicitly backed by Tether and Bitfinex, designed to power stablecoin payments using USDT as the native gas token. Unveiled in June 2025 after emerging from stealth, it raised $28 million in July to accelerate development. The technology emphasizes fast, low-cost digital payments, with EVM compatibility for easy dApp migration and support for high-throughput stablecoin operations. Key features include phase-1 roadmap elements like institutional integrations, RWA support, and seamless USDT liquidity pools. As Tether's second backed chain (alongside Plasma), Stable focuses on enabling efficient global transfers, with zero or flat fees to attract users from congested networks like Ethereum. Its launch aligns with Tether's push for a "new global financial system," backed by billions in daily USDT volume. While details on consensus (likely proof-of-stake or authority) remain sparse, Stable's vertical integration with Tether positions it for rapid adoption in payments and DeFi, though it must navigate regulatory scrutiny tied to Tether's reserves.
Tempo by Stripe (backed by Paradigm)
Tempo (likely a correction from "Temp" in the X post) is a high-performance Layer-1 blockchain being developed by fintech giant Stripe in partnership with crypto VC firm Paradigm. Reported in August 2025, Tempo is in stealth mode with a small team of five, and Stripe appointed Paradigm co-founder Matt Huang as CEO to lead the project. EVM-compatible and payments-focused, it aims to leverage Stripe's expertise in global payments while integrating stablecoins for sub-second, low-cost transactions. Features include native support for multiple stablecoins, fixed costs, and scalability for enterprise use cases like cross-border remittances and e-commerce. Backed by Paradigm's crypto savvy, Tempo represents Stripe's deeper foray into blockchain, building on its prior crypto payment tools. It has not launched yet (expected later in 2025), but its focus on stablecoin infrastructure could disrupt traditional fintech by offering compliant, on-chain alternatives. Funding details are undisclosed, but the Paradigm partnership suggests significant resources.
Convergence by Ethena
Convergence (or Converge) is an EVM-compatible Layer-1 blockchain launched by Ethena Labs (creators of the synthetic stablecoin USDe) in partnership with tokenization specialist Securitize. Announced in March 2025 and launched in Q2 (around April), it specializes in unifying TradFi and DeFi through RWA tokenization and stablecoin applications. Built on the Arbitrum tech stack for scalability, Convergence includes native KYC/AML compliance, custody solutions, and support for tokenized assets like Treasuries. Features cater to both retail (DeFi yields) and institutional users (secure RWA trading), with Ethena's USDe as a core stablecoin for pegged transactions. Backed by BlackRock-adjacent firms via Securitize's BUIDL fund, it has raised undisclosed amounts but benefits from Ethena's governance and ecosystem growth. As of August 2025, Convergence is live, focusing on bridging capital markets on-chain, though adoption lags behind pure stablecoin chains due to its broader RWA emphasis.
1Money Network
1Money Network is a Layer-1 blockchain purpose-built for stablecoin payments and RWAs, emerging from stealth in January 2025 with over $20 million in funding from investors like F-Prime Capital. Led by CEO Brian Shroder (former Binance.US head), it features a patent-pending Byzantine Consistent Broadcast (BCB) consensus for high-speed, secure transactions without a native token—using stablecoins directly for flat gas fees. Key features include instant settlements, fixed costs, multi-stablecoin support (e.g., USDC, USDT), and embedded debit card programs for mass-market adoption. Launched in Q2 2025, 1Money targets global payments with regulatory compliance, powering yield-generating accounts and DeFi integrations. Its no-native-token model reduces volatility, making it appealing for everyday use, though it lacks the hype of Tether/Circle-backed projects. As of August, it's gaining traction in fintech embeddings.