Plasma, a newly launched Layer-1 blockchain, has rapidly become the second largest destination for USDT0 stablecoin inflows, amassing over $27 billion since its mainnet launch on September 25, 2025. Designed specifically for stablecoin transactions, Plasma offers zero-fee transfers and integrates Tether's USDT0 standard, facilitating seamless transactions across more than 20 blockchains. Backed by Tether, Bitfinex, and notable investors like Peter Thiel's Founders Fund, Plasma's development included a public token sale in July 2025 that raised $373 million. The network's rapid adoption highlights the effectiveness of its purpose-built design and zero-fee model, although its heavy reliance on USDT and Tether poses potential risks related to counterparty and regulatory issues.