In 2025, the stablecoin ecosystem has seen a surge in purpose-built blockchains designed to address limitations in general-purpose networks like Ethereum or Solana. These chains prioritize low-cost, high-throughput transactions, regulatory compliance, and seamless integration with traditional finance in order to maximize the use of stablecoins, targeting use cases like cross-border payments, remittances, peer-to-peer payments and easy on/offboarding experiences. With stablecoin supply nearing US$300 billion and trillions in monthly volume, these projects aim to unlock institutional adoption by offering predictable fees, compliant privacy features, and stablecoin-native infrastructure.

With the upcoming release of the Tether backed chain, Plasma, later this week, which has been trading at a significant valuation of ~US$7.9 billion in pre-markets, we thought it was time to take a look at the design choices & architecture of these dedicated stablecoin chains. 

 

Why Stablecoin Chains

General purpose legacy chains such as Solana and Ethereum weren’t built with stablecoin dominance in mind as such these networks can face issues when processing high throughput stablecoin transactions. 

 

Dedicated stablecoin chains address these pain points by prioritizing:

• Ultra-low or zero fees: Critical for micropayments and high-volume use cases like remittances.
• High throughput: Targeting 100,000+ TPS to rival Visa/SWIFT systems.
• Regulatory compliance: Features like opt-in privacy and KYC hooks align with laws like MiCA and the GENIUS Act.
• Interoperability: Bridges to multichain ecosystems and fiat on/off-ramps for easy real-world adoption.

The stakes are high: stablecoins already process $1.3 trillion monthly, dwarfing PayPal’s annual volume. These new chains aim to make stablecoins the default for global finance, from B2B settlements to emerging market payouts.

Delphi Digital sums it up: “Plasma treats stablecoins as the primary use case, enabling optimizations like zero fee transfers… Think of it like Visa launching a global card network that also controls the payment rails”. This specialization is the core thesis of these chains.

 

The Contenders

 

Chain	Backers	Core Focus	Key Features	Approach
Plasma	Bitfinex/Tether, Peter Thiel	Global stablecoin payments & neobanking	EVM-compatible L1 with PlasmaBFT consensus Zero-fee USDT transfers Native Bitcoin bridge; confidential payments >$2B liquidity at launch (100+ DeFi integrations) XPL native token for validation/rewards Plasma One neobank for cards, savings, remittances	USDT-optimized, targeting emerging markets for dollar access; Bitcoin-aligned sidechain philosophy. Differentiates via zero fees and full-stack services (e.g., prepaid cards via Rain), focusing on underserved regions with shaky currencies. Emphasizes scalability for trillions in volume, with community token to bootstrap adoption.
Arc	Circle (USDC issuer)	Stablecoin finance (payments, FX, capital markets)	EVM-compatible L1 Gas fees in USDC (predictable, stable) Optional privacy for compliance – Native support for tokenized assets (e.g., equities, RWA)	Enterprise-grade, vertically integrated with USDC; emphasizes trust and multichain liquidity via Circle’s CCTP. Differs by tying directly to one issuer’s stablecoin for cost predictability, positioning as a “money network” for institutions rather than retail DeFi
Tempo	Stripe & Paradigm	High-volume payments (B2B, remittances, payouts)	EVM-compatible L1 on Reth client >100k TPS with sub-second finality Gas fees in any stablecoin via enshrined AMM Stablecoin-neutral (supports all issuers) Opt-in privacy No native token; focuses on throughput	Payments-first, commerce-oriented design born from Stripe’s global rails; complements general chains without competing. Stands out for neutrality (no favoritism to one stablecoin) and enterprise partnerships (e.g., Visa, Shopify), aiming for “behind-the-scenes” settlement like SWIFT/ACH but faster/cheaper.
Codex	Dragonfly, Coinbase, Circle Ventures	B2B stablecoin transactions & FX	L2 on OP Stack (Optimism) Native USDC support; multi-issuer compatibility Predictable low fees; fiat on/off-ramps via exchanges/brokers Codex API for programmatic transfers Codex FX for wholesale FX markets Compliance-focused (licenses, KYC integrations)	Enterprise-centric L2 for boundary problems (fiat-crypto gaps); disavows general-purpose chains for inefficiency. Unique in prioritizing B2B usability (e.g., single-interface for payments/FX/accounts) and regulatory bridges, making stablecoins “default” for business ops like SWIFT alternatives.
Stable	Tether	USDT-native global settlement	L1 optimized for Tether ecosystem Ultra-low fees; high TPS for volume trading Deep USDT liquidity pools Interoperability with Tether’s multi-chain deployments Focus on DeFi lending/borrowing with USDT	USDT0-exclusive, leveraging Tether’s $155B+ dominance for seamless, high-volume flows. Differs by being hyper-specialized for the market leader, enabling zero-risk arbitrage and deep markets; positions as a DeFi layer for Tether’s global dominance.

 

Key Differences in Approaches

Layer & Performance: Most are EVM-compatible L1s (Arc, Tempo, Plasma, Stable) for sovereignty and speed (>100k TPS targeted), except Codex (L2 for cheaper Ethereum scaling). All prioritize sub-second finality and low/zero fees to outpace legacy rails like SWIFT (days/$14–150 fees).

 

Stablecoin Integration: Arc, Plasma and Stable favor single-issuer ties (USDC/USDT/USDT0) for simplicity and liquidity bootstrapping. Tempo and Codex embrace neutrality/multi-issuer support to avoid silos. 

 

Use Case Emphasis: Arc leans institutional finance (FX, tokenization); Tempo targets commerce/payments (e.g., Shopify integrations); Plasma focuses on emerging markets/neobanking; Codex on B2B/fiat bridges; Stable on DeFi/trading volume.

 

Governance & Decentralization: Arc and Tempo start semi-centralized (consortium validators, Stripe influence) for reliability, evolving to full openness. Plasma uses community tokens (XPL) for decentralization. All incorporate privacy/compliance hooks (e.g., opt-in ZK proofs) to meet MiCA/GENIUS Act regs.

 

 

Purpose-built stablecoin blockchains like Plasma, Arc, Tempo, Codex, and Stable are aiming to revolutionize payments in global finance. With $1.3 trillion in monthly stablecoin volume the competition is becoming fierce, these chains offer low fees, high throughput, regulatory compliance, and fiat integration, outpacing legacy systems like SWIFT. Each targets unique use cases, from neobanking to B2B settlements, positioning stablecoins as the future of money in a rapidly evolving financial landscape.