Plasma, a blockchain company recognized for its work with stablecoins, is preparing to introduce a new digital banking service called Plasma One. The launch is scheduled to follow the mainnet release of its stablecoin blockchain later this month. The upcoming neobank is expected to offer several incentives, including 4% cashback on spending, over 10% yield on account balances, and access to international services.
The platform will allow users to fund both physical and virtual cards using different stablecoins, beginning with USDT. Transactions will be routed through the Plasma blockchain, a mechanism designed to enhance efficiency and speed. The project’s leadership has explained that the initiative aims to expand financial accessibility by enabling permissionless access to digital dollars, particularly targeting individuals who struggle to participate in traditional banking systems.
Mainnet launch as foundation for the neobank
The blockchain supporting Plasma One is set to enter its mainnet beta phase on September 25. This milestone represents the transition of the project from its developmental stage to operational deployment. Following the launch, the neobank is expected to roll out gradually, with the company expanding its services in phases to reach a broader user base.
Plasma One will introduce a number of competitive features. One of its primary offerings is the elimination of fees on USDT transfers. The neobank also plans to deliver yields exceeding 10% on stablecoin balances, without imposing a lock-up requirement. The returns will be generated from Plasma’s decentralized finance ecosystem, which has been structured to optimize user rewards.
Yield structure to attract new users
Currently, Plasma provides a 2% yield on USDT holdings through Binance. The company’s new structure offers significantly higher returns, which could help attract fresh interest in the platform. Plasma’s approach to yield generation highlights its strategy to distinguish itself within the growing competitive landscape of blockchain-based financial services.
Learn more about Plasma One and how it fits into our vision in our blog post.https://t.co/EEwxp8kfIQ
— Plasma (@PlasmaFDN) September 22, 2025
In addition to yield opportunities and zero-fee transfers, the neobank aims to deliver a seamless global payment experience. With the Plasma blockchain serving as the backbone for transactions, users will be able to access card services worldwide. The company views this global reach as a step toward making Plasma One a flexible and universally applicable financial solution.
Backed by strong investor support
The neobank project has already garnered notable attention from the market. Earlier in the year, Plasma secured $24 million across seed and Series A funding rounds. High-profile backers include Tether CEO Paolo Ardoino and PayPal co-founder Peter Thiel, both of whom also act as advisors to the initiative. Their involvement is seen as an indicator of strong confidence in Plasma’s ability to innovate in the stablecoin-driven financial space.
By combining cashback rewards, high-yield opportunities, global usability, and zero-fee transfers, Plasma One is positioning itself as a competitive alternative to conventional banking. The project reflects the growing trend of blockchain companies moving beyond infrastructure and into mainstream financial services, signaling a broader shift in how stablecoins may shape future banking experiences.