Plasma is a Layer 1 blockchain built for global stablecoin payments, offering zero-fee USDT transfers, custom gas tokens, and a native Bitcoin bridge. Secured by PlasmaBFT for fast finality and high throughput, it’s also EVM-compatible, making it easy to deploy Ethereum-based smart contracts. 

Plasma (XPL) was co-founded in 2024 by Paul Faecks and Christian Angermayer.

• XPL token: XPL plays a key role in the ecosystem. It is used for staking, validator incentives, governance, and gas fees.

• Zero‑fee USDT transfers: Users can send USDT without paying gas fees, lowering entry barriers for non-crypto natives.

• High throughput and fast finality: The PlasmaBFT consensus, which is based on Fast HotStuff, aims for sub‑second finality and supports high transactions per second.

• Native Bitcoin bridge: Plasma plans a trust‑minimized bridge to allow BTC deposits and use of wrapped BTC (pBTC) within smart contracts.

XPL is a promising crypto in the stablecoin payments sector. Its unique value lies in offering zero-fee USDT transfers, support for stablecoin-based gas fees, and native Bitcoin integration.  The PlasmaBFT consensus mechanism ensures fast finality and high throughput, making it suitable for real-world payment applications. With EVM compatibility, developers can easily port Ethereum dApps, while the upcoming BTC bridge could further expand its utility. Backed by a clear focus, technical innovation, and growing ecosystem support, XPL positions itself as a strong contender in the payments-focused Layer 1 space.

You can buy XPL from crypto platforms like CoinSwitch.

• XPL can be bought and traded on crypto platforms like CoinSwitch. 

• While Plasma supports USDT and BTC for gas, XPL can also be used to pay transaction fees, especially when using dApps that default to native tokens.

• XPL is used to stake and run validator nodes, helping secure the Plasma blockchain and earn staking rewards in return.

• Holders of XPL can vote on protocol upgrades, parameter changes, and other governance proposals that shape the network’s future.

• Plasma is built for global stablecoin payments, including zero‑fee USDT transfers, which makes transactions cheaper and more accessible.

• Developers familiar with Ethereum tooling can build on Plasma with minimal friction via Reth.

• Plasma’s design includes a trust‑minimized Bitcoin bridge and anchoring state to Bitcoin, which adds a layer of strong, well‑trusted security.

• XPL is subject to market volatility like all cryptos.

• Plasma is focused on stablecoins and payments, a sector that is under heavy regulatory scrutiny globally.

• There are already many Layer‑1s  and Layer‑2s that improve stablecoin capability, including Ethereum, Tron, Solana, etc. Plasma must stand out to gain adoption.

• Start investing in XPL with just ₹100.

• CoinSwitch provides a seamless and intuitive trading experience for users.

• Easily manage your transactions and portfolio on the app.

The ICO for Plasma was one of the most notable in 2025, raising a total of $74 million across six funding rounds. Its public sale priced XPL at $0.05, generating $50 million, while earlier private and strategic rounds added another $24 million in funding. The IDO took place on Impossible Finance on June 9, 2025, and delivered impressive returns. Plasma’s Token Generation Event (TGE) occurred on September 25, 2025, accompanied by an airdrop of 100 million XPL. The project is backed by high-profile investors, including Cobie, Framework Ventures, 6th Man Ventures, Bitfinex, and Founders Fund.