Plasma, a new Layer 1 blockchain optimized for stablecoins, has announced its mainnet will launch in beta on September 25. The network is specifically designed to serve users in countries with volatile local currencies, offering a stable alternative for savings and transactions. Plasma CEO Paul Faecks stated that while the primary target is emerging markets, he anticipates adoption in developed economies as well.

The platform will feature gasless transactions for stablecoins like USDT and will be secured by recording checkpoints onto the Bitcoin blockchain, enhancing its reliability. The network’s native token, XPL, will be used for staking and securing the chain. Several stablecoin projects are reportedly preparing to launch on Plasma, indicating early ecosystem development.