Plasma One Aims to Expand Financial Access Through a No-Fee Stablecoin Digital Bank

Plasma, a blockchain network tailored for stablecoin operations, has introduced Plasma One—a neobank centered around stablecoins that aims to offer global users digital dollar financial services. With Plasma One, individuals can load stablecoins like USDT into their accounts and use both physical and virtual cards to make transactions. The service offers perks such as 4% cashback on purchases, yields exceeding 10% on stored stablecoin funds, and is available in over 150 countries title1 [ 1 ]. The official rollout will commence following the beta release of Plasma’s mainnet on September 25, 2025 title2 [ 2 ].

With the goal of overcoming what it terms "distribution challenges" in stablecoin usage, Plasma One provides a streamlined platform for digital dollar saving, spending, and earning. The neobank utilizes Plasma’s layer-1 blockchain infrastructure for payments, featuring fee-free USDT transfers and integration with more than 100 DeFi projects, such as

, , and Euler title3 [ 3 ]. The card, issued via Rain—the entity behind the Avalanche Card—lets users earn rewards on stablecoin deposits while shopping or paying for daily expenses title4 [ 4 ].

This initiative has secured notable institutional support, raising $24 million in seed and Series A rounds from backers like

CEO Paolo Ardoino and PayPal co-founder Peter Thiel title5 [ 5 ]. Plasma’s beta mainnet will launch with a stablecoin liquidity pool of $2 billion, ranking it as the world’s eighth-largest blockchain by stablecoin volume title6 [ 6 ]. These funds will be used in DeFi protocols to generate returns, with Plasma projecting yields above 10% for its users title7 [ 7 ].

Plasma has mapped out a gradual launch for Plasma One, initially opening access to verified depositors and members of the Stablecoin Collective. The native XPL token will be distributed among community members, with 25 million tokens for early depositors and 2.5 million reserved for the Stablecoin Collective title8 [ 8 ]. The token serves several purposes: securing the network, encouraging validator participation, and enabling governance across the platform title9 [ 9 ].

The neobank is prioritizing emerging markets, reflecting Plasma’s intent to broaden digital dollar access in places with limited banking options. Using local teams and peer-to-peer cash networks, Plasma wants to support remittances, small business transactions, and cross-border payments title10 [ 10 ]. The company underscores its dedication to financial inclusion, with CEO Paul Faecks highlighting that Plasma One’s mission is to offer "open access to save, spend, earn, and transfer digital dollars" for populations typically underserved by the financial system title11 [ 11 ].

The launch of Plasma comes at a time of key regulatory changes in the stablecoin sector, including the U.S. GENIUS Act and Europe’s MiCA guidelines. Although these measures seek to harmonize stablecoin oversight, Plasma’s free transfers and DeFi connectivity make it a strong challenger to traditional banking title12 [ 12 ]. Analysts believe that the project’s focus on high-liquidity, low-cost transactions could boost stablecoin uptake, especially in areas where the dollar’s stability is vital title13 [ 13 ].