Stable, a Bitfinex-backed Layer 1 blockchain using Tether's USDT as a gas token, unveils 'Phase 1' of its roadmap

Tether’s $USDT is powering a new Layer 1 blockchain, called Stable, according to an announcement on Tuesday. The so-called "stablechain" will use $USDT as a native token for gas and settlement fees.

Stable was “built to address the inefficiencies of current infrastructure—unpredictable fees, slow settlement times, and overly complex user experiences,” according to an announcement. "At its core, Stable is designed to unlock the true potential of stablecoins, making transactions faster, cheaper, and more reliable for everyone."

According to the project’s documentation, the high-throughput network will feature sub-second block finality, full EVM compatibility, and an integration with the LayerZero-based decentralized USDT0 token, which is pegged to Tether’s USDT. Transactions using USDT0 will also be gas-free.

The team also highlights Stable’s custom features “for institutional needs,” including guaranteed blockspace allocation, batch transaction processing, and confidential transfer features to balance transaction privacy with compliance requirements. The native Stable Wallet will also offer features like social login, debit/credit card integration, and human-readable wallet aliases.

Phase 2 of the project will see the blockchain adopt optimistic parallel execution to enhance transaction throughput and additional enterprise-specific features, while Phase 3 is centered on rolling out developer tools and optimizing Stable's consensus model.

The project is backed by USDT0 and Bitfinex, the crypto exchange closely associated with Tether. It is unclear who is building the network; however, Tether CEO Paolo Ardoino congratulated the team last month when it was announced the project was leaving “stealth.”

Bitfinex led a $3.5 million funding round in October 2024 for Plasma, which is also building a stablecoin-focused EVM-compatible sidechain aiming to eliminate $USDT transaction fees.

“Stable is building a stablecoin landscape from ground-up, providing specialized infrastructure that enhances operational reliability, user engagement, and global financial inclusion,” the team wrote in its documentation. The chain will also feature specialized SDKs to help third-party teams develop applications tailored for stablecoins.

$USDT is far and away the largest stablecoin by transaction volume and market capitalization, with a circulating supply of 157.7 billion tokens, according to The Block’s data.

The move comes at a critical moment for the stablecoin sector as U.S. lawmakers make progress on passing the GENIUS Act to regulate the emerging market.