Plasma, backed by Bitfinex, announced a strategic partnership with EtherFi on August 29, becoming the partner to launch the beta mainnet. According to the agreement, EtherFi will transfer over 500 million USD from its Ethereum staking pool to Plasma, providing liquidity for profit strategies tied to stablecoin.
Plasma operates as a Bitcoin sidechain, EVM compatible, focusing on stablecoin payments and cross-border transactions, notable for free gas fee transfers of USDT. In June, the platform raised 1 billion USD in deposits within just 30 minutes, with 70% coming from the top 100 largest wallets.
The expanded partnership allows Plasma to integrate EtherFi's liquidity staking token as collateral, while also adding features such as secure trading and customizable gas tokens. With a TVL of over 11 billion USD, EtherFi affirms its confidence in Plasma, amid the growing demand for global stablecoin infrastructure.
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Plasma secures a partnership with EtherFi by integrating a storage of 500 million dollars worth of ETH.
Plasma, backed by Bitfinex, announced a strategic partnership with EtherFi on August 29, becoming the partner to launch the beta mainnet. According to the agreement, EtherFi will transfer over 500 million USD from its Ethereum staking pool to Plasma, providing liquidity for profit strategies tied to stablecoin.
Plasma operates as a Bitcoin sidechain, EVM compatible, focusing on stablecoin payments and cross-border transactions, notable for free gas fee transfers of USDT. In June, the platform raised 1 billion USD in deposits within just 30 minutes, with 70% coming from the top 100 largest wallets.
The expanded partnership allows Plasma to integrate EtherFi's liquidity staking token as collateral, while also adding features such as secure trading and customizable gas tokens. With a TVL of over 11 billion USD, EtherFi affirms its confidence in Plasma, amid the growing demand for global stablecoin infrastructure.