Stablecoin Public Blockchains: Six Fast, Compliant Networks
HTX Research defines stablecoin public blockchains as specialized networks for stablecoin issuance, payments, cross-chain transfers and settlement. Unlike general-purpose chains, stablecoin public blockchains let users pay fees in stablecoins like USDC or USDT. They deliver fast, low-cost transactions with built-in KYC/AML compliance and privacy modules. The report profiles six networks: Arc, Tempo, Stable, Plasma, Converge and Codex. Arc, by Circle, offers USDC settlement at 3,000 TPS with cross-chain and FX integrations. Tempo, by Stripe and Paradigm, supports 100,000 TPS and direct fiat rails. Stable, from Tether and Bitfinex, is an EVM Layer 1 with 10,000 TPS, gas-free USDT transfers and $28 million in seed funding. Plasma is a Bitcoin sidechain for zero-fee USDT payments. Converge, an Ethereum Layer 2, uses USDe/USDtb gas tokens and institutional custody for real-world assets. Codex targets corporate finance with gas abstraction and multi-currency FX. These dedicated chains may boost stablecoin demand, cross-chain volumes and enterprise adoption, influencing market activity and liquidity.
Bullish
Dedicated stablecoin public blockchains strengthen stablecoin utility by cutting fees, speeding up transactions and embedding compliance. As these networks launch—with high TPS, fiat on‐ramps and enterprise features—they should drive higher stablecoin demand, cross-chain volume and institutional adoption. This mirrors past DeFi-specific layer-2 rollouts that boosted token liquidity and trading activity. In the short term, traders may see increased stablecoin flows and tighter spreads. Long term, wider enterprise use cases and compliance modules could cement stablecoins’ role in on-chain finance, supporting market growth and stability.