Plasma Now Live on Covalent

What’s Live

Plasma, backed by Founders Fund, Framework Ventures, Bitfinex, and Tether, is a new stablecoin-first Layer-1 project. USDT now clears trillions of dollars in monthly on-chain volume, bigger than PayPal and closing on Visa’s settlement rails. With dollar-denominated transactions becoming a fixture of global settlement, Plasma treats them as first class citizens. USDT transfers are treated as protocol-level operations without requiring gas. 

Many of Covalent’s core clients depend on historical stablecoin flows, and with Plasma now being live on Covalent, every block, transaction, and contract on Plasma is now at their fingertips. This is a breakthrough for compliance teams that need verifiable, regulator-ready payment trails across stablecoin rails.

Plasma Positions as a Payment Network

Plasma rethinks stablecoin infrastructure from the ground up. Instead of treating USDT as just another token, Plasma removes gas friction through a protocol-level paymaster that sponsors standard transfers directly onchain. This blurs the line between a blockchain and a payments network. Combined with its PlasmaBFT consensus (a pipelined Fast HotStuff variant built for deterministic finality) and a trust-minimized Bitcoin bridge that brings BTC liquidity into the EVM environment, Plasma represents a credible attempt to build a stablecoin-first, multi-asset payments chain. Add its push for EU licensing (Italian VASP; MiCA/EMI roadmap) and a “slash-rewards-not-stake” validator model for institutions, and you get one of the few new L1s aiming at real monetary UX at the protocol layer.

Available Today

Plasma data is now live on GoldRush’s Foundational API, and by extension SpeedRun. Whether you’re building analytics dashboards, compliance and audit tools, or applications that track stablecoin velocity, you now get Plasma’s payments-grade execution and Covalent’s precision in one seamless integration. Institutional compliance systems, fintechs, and analytics teams can query every block, transaction, and contract—meeting reporting and regulatory requirements with verifiable onchain data.

Learn more about the Plasma integration here.