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Coinbase will add support for Plasma (XPL) on the Plasma network. Do not send this asset over other networks or your funds may be lost. Spot trading for Plasma (XPL) will go live on 2 December 2025. The opening of our XPL-USD trading pair will begin on or after 9AM PT, if liquidity conditions are met, in regions where trading is supported.

Just finished watching a very smart conversation with @e_woodford and @pauliepunt about the future of stablecoins and where $XPL is heading. After this, it is clearer than ever what Plasma’s actual mission is. They are not trying to become “just another chain.” They are taking a very different and very intentional path: integrate step by step into every exchange, every platform, every payment rail, and every tool that people already use in each country. They study a market, go deep, unlock the doors with partners, and make stablecoins move through Plasma from anywhere in the world in the fastest, cheapest, cleanest way possible. The key point they touched on, and the thing most people still do not fully understand, is this: Blockchain technology alone does not make money. Monetization does. Anyone can launch a chain. That is no longer the hard part. The real challenge is building products, applications, and financial infrastructure that sit on top of the chain and monetize every interaction. A blockchain by itself is not the business. The ecosystem around it is. This is exactly why Plasma One exists. Plasma’s mission is to make the Plasma blockchain accessible everywhere around the world. Plasma One becomes the core monetization engine that connects the entire strategy together. This is the product that captures value from stablecoin flow, integrations, local market expansions, and every partner that plugs into the network. Everything they are building right now, including partnerships, regulatory pathways, tools, rails, and the products that have not been announced yet, all contribute to one clear goal: Become the global infrastructure for stablecoin movement and monetize it at scale. CT still thinks Plasma is competing with L2s. In reality, they are competing for stablecoin flow, payment rails, and global accessibility. If they execute even half of this vision, the upside is extreme.

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