Plasma

Plasma has evolved from a stablecoin payment infrastructure into a vertically integrated financial ecosystem. Shortly after its mainnet launch, the network processed 75 million transactions within one month, surpassing 2.2 million cumulative users, demonstrating its capacity for stablecoin payments at scale. Its total value locked subsequently rose to $2 billion, making it the seventh-largest public chain by TVL. A significant milestone was the listing of XPL on Coinbase, which brought the token to mainstream liquidity. To strengthen its European presence, Plasma acquired an Italian entity to obtain a VASP license, enabling compliant stablecoin payment services across the EU. The launch of Plasma One marked the transition from pure infrastructure to a full-fledged financial product, integrating deposits, spending, transfers, and yield generation. Additionally, Plasma announced plans to transfer XPL custody to Anchorage, a crypto bank, reinforcing institutional-grade asset security. These milestones collectively chart Plasma's path from a technical experiment to a regulated, user-facing stablecoin banking platform.