Online reports that Plasma Networks raised $3.5 million in its latest financing round, led by Bitfinex and including support from investor Christian Angermayer and a number of venture capital firms such as Split Capital, Anthos Capital, Karatage and Manifold Trading. Bitfinex CTO and Tether CEO Paolo Ardoino is also behind the project. The Plasma Network is an EVM-compatible blockchain capable of running any Ethereum-compatible smart contract, with the goal of extending USDT's payment capabilities on Bitcoin through a zero-fee payment channel. Plasma is also considering expanding to the Cosmos ecosystem in the future, but is currently focusing on the EVM side and hopes to enhance the payment and DeFi capabilities of the Bitcoin network through this innovation.