Overview
Stable is a Layer 1 blockchain for stablecoin payments, backed by Bitfinex (sister company of Tether). Its main network, StableChain, and its STABLE token launched on 8 December 2025, after raising $28 million in a seed round led by Bitfinex and Hack VC. PayPal Ventures later invested, and PayPal’s PYUSD was integrated.
Before launch, Stable reported about $2 billion in pre-deposits, a figure from the company.
How it works
- USDT is the gas token: users pay fees in USDT (via a wrapped version), so they never need to buy a separate token to send dollars.
- Some USDT transfers are free.
- The chain is designed for fast, final payments and is compatible with Ethereum tools.
- STABLE is the governance token: holders vote, and validators must lock STABLE to take part. It is not used to pay fees.
The STABLE token
| STABLE at a glance | |
|---|---|
| Maximum supply | 100 billion STABLE |
| In circulation (Oct 2026) | about 18 billion |
| Price (29 Oct 2026) | about $0.027 |
| All-time high | about $0.043 (May 2026) |
| Market cap | about $490 million (#111) |
Risks
- Weak token link. Because fees are paid in USDT, network use doesn’t directly create demand for STABLE.
- Unlocks. Over 80% of STABLE is still to be released.
- Low activity. About $28 million is deposited on StableChain (DeFiLlama), far below the pre-deposit headline.
- Competition. Plasma, TRON and others target the same USDT payment market.
Stable vs. the competition
| Stable | Plasma | TRON | |
|---|---|---|---|
| Gas token | USDT | XPL (USDT transfers free) | TRX |
| Backer | Bitfinex | Tether-linked investors | Justin Sun |
| USDT on chain | Small | Medium | Over $80 billion |
Our verdict
Stable has a clear and sensible goal and powerful backers, but its real usage is small so far and its token has a weak link to network activity. STABLE is a high-risk investment: invest only what you can afford to lose.
This review is for information only and is not financial advice.