The company’s founding round, announced Thursday (July 31), will be used to build out Stable’s infrastructure, hire new workers and to increase the distribution of Tether’s USDT stablecoin.
Stable bills itself as a “stablechain” that is designed for “seamless and instant transactions,” and is entering the market amid rising stablecoin adoption following the passage of the GENIUS Act in the U.S. earlier this month.
“Payments infrastructure around the world needs an overhaul, and traditional methods have failed to achieve fast, reliable, and secure digital payments despite massive demand from consumers across the globe,” Stable founder and CEO Joshua Harding said in a news release.
“Stable was developed to take advantage of the potential behind stablecoins like USDT to offer instant and seamless payments, directly addressing problems with current payment rails.”
With the passage of the GENIUS Act, designed to offer regulatory clarity for stablecoin payments, Stable says its stablechain is “uniquely positioned” in a market that has the formal backing of the U.S. government to implement stablecoin payments.
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The release also quotes Tether CEO Paolo Ardoino, who said the U.S. is “undergoing a complete 180 in terms of its approach to digital assets and stablecoins,” and that Stable is poised to take advantage of banks’ embrace of stablecoins.
“They are very advanced in terms of their infrastructure and roadmap, making them well positioned to bring USDT into the mainstream,” Ardoino added.
President Donald Trump signed the GENIUS Act into law July 18, with the White House releasing a report on digital asset policy earlier this week.
Titled “Strengthening American Leadership in Digital Financial Technology,” the report proposes a framework for clearer regulation, explores the administration’s position on digital assets like stablecoins and bitcoin, and poses issues like tax modernization and regulatory innovation.
As PYMNTS wrote, this new policy landscape could give banks more reason to engage. The White House report calls on regulators to offer sandbox programs, support federally chartered crypto banks, and clarify rules governing digital asset custody and stablecoin issuance.
“But these efforts remain conceptual. In practice, U.S. banks still face operational, compliance and market risks if they move too quickly,” that report said.
“One lingering concern: deposit displacement. If stablecoins or tokenized treasuries become common stores of value, commercial banks could see deposits migrate to FinTechs or wallets. The White House acknowledged this but suggests competitive innovation — not regulatory intervention — should shape outcomes.”
