KuCoin Ventures, the investment arm of the global cryptocurrency exchange KuCoin, has announced a significant strategic investment in Stable, a groundbreaking new Layer 1 blockchain. Stable is designed with a singular focus: to be the dedicated infrastructure for stablecoin asset issuance and settlement, aiming to create a global stablecoin clearing and settlement network.
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This initiative is particularly notable for its deep connection to the stablecoin ecosystem. Stable has the backing of the teams behind Tether and Bitfinex, with Bitfinex’s Chief Technology Officer, Paolo Ardoino, serving as a project advisor. The funding round itself reflects a powerful consensus, with participation from not only KuCoin Ventures and Ardoino, but also from other major players in both the crypto and traditional financial worlds, including Bitfinex, Hack VC, and Franklin Templeton. This diverse group of investors signals a strong market belief in the necessity of evolving stablecoin infrastructure.
Stable’s core mission is to solve the key pain points that currently plague on-chain stablecoin applications: unpredictable fee structures, slow transaction times, and complex user experiences. Unlike general-purpose blockchains like Ethereum or Tron, Stable’s architecture is meticulously “built-for-stablecoins.”
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The platform’s innovations are designed to fundamentally transform how stablecoins are used. A standout feature is the use of USDT as the native gas token. This means users don’t need to hold a separate, often volatile, platform token to complete transactions. Furthermore, peer-to-peer USDT transfers are gas-free, a significant step toward simplifying the user experience. Stable’s high-performance architecture, built on the StableBFT consensus and soon to include a DAG architecture, is engineered for high throughput and near-instant transaction confirmations. For businesses, the platform offers enterprise-grade security and scalability, with the ability to secure dedicated block space for predictable transaction speeds and fees, making it an ideal solution for large-scale payment needs.
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This investment aligns with KuCoin Ventures’ ongoing strategy to support the development of next-generation payment infrastructure and the broader stablecoin economy. Cass Tsai, the head of KuCoin Ventures, expressed confidence in the long-term potential of stablecoins and views Stable as a crucial step toward creating a scalable global network for stablecoin circulation and cross-border payments. The sentiment was echoed by Stable’s Co-founder and CEO, Joshua Harding, who emphasized the platform’s role in overhauling outdated payment systems and harnessing the potential of stablecoins like USDT for fast, reliable, and secure digital payments.
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Source : PRnesswire