Plasma, a blockchain firm specializing in stablecoin technology, has unveiled Plasma One, a neobank built entirely around stablecoins, set to debut after its blockchain mainnet beta launches on September 25, 2025. The platform promises to revolutionize digital dollar access with features like 4% cash back on spending, over 10% yield on stablecoin balances without lockup periods, and zero fees on USDT transfers.
Users can load physical or virtual cards with stablecoins, starting with USDT, and make payments globally via the Plasma blockchain. CEO Paul Faecks emphasized, "Stablecoins provide a fundamental, permissionless way to hold and move dollars anywhere," targeting financial exclusion in emerging markets. Plasma has raised $24 million in funding, with advisors including Tether CEO Paolo Ardoino and PayPal co-founder Peter Thiel, bolstering its credibility.