TLDR
- Plasma One offers 4% cashback and over 10% yield on stablecoin balances without lockups.
- The mainnet beta of Plasma’s stablecoin blockchain is scheduled for September 25.
- Users can pay directly with stablecoins like USDT using physical or virtual cards.
- The rollout will focus on emerging markets through local teams and cash networks.
Plasma is preparing to launch Plasma One, a stablecoin-native neobank, following the mainnet beta of its layer-1 blockchain on September 25. The platform aims to simplify how people save, spend, and earn using stablecoins, starting with USDT. Its card promises 4% cashback on spending, over 10% yield on balances, and coverage in more than 150 countries.
The move seeks to meet growing demand for seamless dollar access and digital financial tools. Users will be able to load their cards with stablecoins and pay directly from their balances, either through physical or virtual cards, while benefiting from integrated yield opportunities.
Plasma One Prepares for Global Rollout
Plasma One will launch after the stablecoin-focused blockchain reaches its mainnet beta milestone on September 25. The neobank is designed to address existing gaps in stablecoin usability, offering direct spending and yield generation without lockup requirements.
The prepaid credit card, issued by Rain—the firm behind the Avalanche Card—will run entirely on the Plasma blockchain. Starting with USDT, the supported stablecoin range will gradually expand. By using its own blockchain as payment rails, Plasma aims to deliver zero-fee transfers and near-instant transactions.
Card Services Promise Rewards and Yield
Furthermore, Plasma One’s card is expected to combine traditional payment convenience with DeFi-based rewards. The card will provide 4% cashback on every purchase and over 10% yield on stablecoin deposits. Unlike many competing products, these benefits will be available without minimum balance requirements or long lockup periods.
Plasma representatives explained that the yield will come from activities within the platform’s decentralized finance ecosystem. This approach reflects a significant jump from the current 2% yield Plasma offers on USDT holdings through Binance, showing the company’s commitment to attract stablecoin users seeking higher returns.
Financial Access Drives the Project’s Mission
In addition, Plasma’s leadership highlights financial inclusion as a key motivation. CEO Paul Faecks described stablecoins as a fundamental way to move and store dollars without relying on traditional banks. He emphasized that Plasma One is intended to reach individuals who face barriers to banking and dollar access.
The company has raised $24 million across seed and Series A rounds, with advisors including Tether CEO Paolo Ardoino and PayPal co-founder Peter Thiel. Plasma previously attracted $1 billion in pre-deposits for its XPL token, demonstrating strong market interest ahead of the neobank’s launch.
Multi-Stage Expansion Targets Emerging Markets
At the same time, Plasma plans to roll out its neobank in several stages after the mainnet beta release. Initial availability will focus on regions where stablecoin use and dollar demand are rising fastest. Local teams and peer-to-peer cash networks will support on-the-ground adoption.
By combining stablecoin payments, DeFi yields, and global reach, Plasma One aims to bridge gaps between digital assets and daily financial needs. Users can join the waitlist on the Plasma website as the company prepares for full-scale deployment.
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