Here's a concise ~150-word summary based on the latest verified Plasma updates (as of November 2025):

2025 has been a breakout year for Plasma, the EVM-compatible Layer 1 built exclusively for stablecoins. Mainnet Beta launched September 25 with $2B+ in day-one liquidity from 100+ partners, instantly ranking it among the top chains by stablecoin TVL.

The XPL token sale crushed expectations, raising $373M (7x oversubscribed) from backers like Founders Fund, Framework Ventures, and Bitfinex. A separate $1B deposit vault for priority access filled in just 30 minutes.

Plasma One, the world’s first stablecoin-native neobank, rolled out with zero-fee USDT transfers, 10%+ yields, and cards offering up to 4% cashback—targeting emerging markets.

Gas-free USDT transfers via protocol paymaster eliminate friction, while FDV soared past $8.6B at peak. Now trading ~$0.2491 (+3.92%), $XPL powers the fastest-growing stablecoin @Plasma #Plasm