Tether's blockchain stable has completed a $28 million seed round financing, led by Bitfinex and Hack VC

ChainCatcher news, according to CoinDesk, the new blockchain project Stable built around Tether's USDT has announced the completion of a $28 million seed round financing, led by Bitfinex and Hack VC, with other supporters including Franklin Templeton, Castle Island Ventures, and KuCoin Ventures, as well as angel investors such as Tether CEO Paolo Ardoino and Braintree founder Bryan Johnson.

The Stable blockchain aims to use USDT as the underlying gas token to build a fast, low-cost stable payment network. Its roadmap is divided into three phases: the first phase achieves USDT payment of gas fees and sub-second block confirmations; the second phase provides block space assurance for enterprise-level payments; the third phase focuses on developer tools and performance upgrades.