The biggest pain point in crypto: you need a native token to pay gas fees even when you just want to send USDT. Stable founder and CEO Brian Mehler decided to fix that at the protocol level. He created a Layer 1 blockchain that uses USDT as its native gas token, allowing users to send, pay fees, and receive using only one stablecoin.
From Block.one's $1B Fund to an Outside Observer
In 2018, Brian became the first member of Block.one's venture team. At the time, dedicating a VC fund specifically for crypto was unheard of. Block.one poured $1 billion into the nascent space, backing projects from Galaxy Digital to gaming studios that later became industry pillars. He left a few years later to manage private capital, taking a step back from the inner circle. That experience gave him a longer view: “I can see problems before they emerge and navigate around them.”
Why Does USDT Need a Dedicated Chain?
Brian argues that forcing users to hold a second token just to pay gas is unnecessary. “When you want to send $100 USDT, why do you need two different coins?” Stable's answer is straightforward: make USDT the native gas token. No currency conversions, no swapping in and out. The chain claims to handle thousands of transactions per second, simplifying the experience for both users and developers.
What If Circle Builds Its Own Stablecoin Chain?
Brian says Stable was designed with compliance in mind from day one. The chain already supports multiple stablecoins, including PYUSD and other OFTs via LayerZero. USDT was chosen as gas simply because it commands 65% of global stablecoin liquidity. His view: “Banks don't print a currency that only works inside their own walls.” A permissioned network would undermine the neutrality and security that public blockchains offer. Stable doesn't aim to be Tether's exclusive chain, even though it works closely with Tether.
Relationship with Tether: Paolo Ardoino as Advisor
Tether CEO Paolo Ardoino has been advising Stable from the early stages, helping align the project with a broader mission: making money more accessible, usable, and fluid. Stable's StablePay product already enables zero-fee peer-to-peer transfers. PayPal Ventures is also an investor, and PYUSD is live on the chain. Brian sees the stablecoin ecosystem as a rising tide that lifts all boats.
Asia View: Hong Kong as Regulatory Leader, Lessons for Taiwan
Brian praised the Hong Kong Monetary Authority for setting a clear stablecoin framework: “They put a standard framework in place, putting Hong Kong in a regulatory leadership position. The Hong Kong dollar is the eighth most traded currency globally. They chose a HSBC-Standard Chartered joint venture as a partner, allowing core-level stablecoin integration. This is not a sandbox—these are real products.” On Taiwan, he suggests looking at Hong Kong's cautious approach in selecting technology and ensuring regulatory compliance while remaining forward-looking.
From VC investor to infrastructure builder, Brian's journey mirrors the industry's shift from asset trading to real-world payments. Stable wants to turn stablecoins from speculative instruments into true money.