PANews reported on July 31st that according to CoinDesk, Stable, a new blockchain project built around Tether's USDT, announced the completion of a $28 million seed round led by Bitfinex and Hack VC. Other backers include 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 base gas token to build a fast, low-cost, and stable payment network. Its roadmap consists of three phases: the first phase will enable USDT gas payment and sub-second block confirmations; the second phase will provide block space guarantees for enterprise-level payments; and the third phase will focus on developer tools and performance upgrades.