Plasma, a blockchain startup, has launched a stablecoin-based neobank valued at USD 373 million, offering 10% Yields and services across 150 countries.
The stablecoin-native neobank aims to deliver optimal access to earning, spending, and transferring in dollars, according to the official statement. Users can pay directly from their stablecoin balances, earning double-digit yields that exceed 10%.
Additionally, the neobank offers up to 4% cash back on purchases with either physical or virtual cards, usable at over 150 million merchants across 150 countries. The app also provides free and instant stablecoin transfers between users. Onboarding is designed to be optimal, offering new customers a virtual card within minutes.
Plasma emphasizes real-world applications, highlighting use cases such as Istanbul exporters securing digital dollars to protect earnings, merchants in Buenos Aires who pay employees in stablecoins, and commodity traders in Dubai who rely on stablecoins for cross-border transactions.
Serving as a foundation for partners
The platform also serves as a testing ground for Plasma’s broader ecosystem, which includes its Layer 1 blockchain, payment infrastructure, and developer tools. Its blockchain can process 1.000 transactions per second with sub-second block times.
By integrating blockchain, tooling, and application vertically, Plasma can refine its payment stack internally before opening it to external developers and institutions.
The company’s approach enables wallets, banks, and fintech apps to build on technology that has already been validated under global demand, rather than in experimental environments. this strategy ensures external partners can deploy reliable solutions without starting from scratch.
Access to Plasma One will roll out in stages, allowing optimal iteration while scaling toward billions of users, according to the statement. The company plans to offer the world on-chain through their neobank platform, with the mainnet beta launched on September 2025. As detailed in the official announcement made by Plasma, initially, both the Plasma network and the super-app were set to have their operations focused on USDT.
