Mantle Unveils Crypto Bank and MI4 Index Fund with $400 Million Budget

The Mantle team is set to launch two new products aimed at bridging traditional and decentralized finance: Mantle Banking and the Mantle Index Four (MI4) fund. This was announced in a quarterly letter to MNT token holders.

Mantle Banking “Cryptoneobank”

Mantle Banking is positioned as an all-in-one solution, integrating fiat and cryptocurrency accounts within a single application. According to the developers, the product aims to address key issues faced by modern financial service users:

• lack of a unified interface for managing traditional and cryptocurrency assets;
• difficulties in converting cryptocurrencies to fiat and vice versa;
• high entry barriers to DeFi.

“Mantle Banking reimagines banking, enhancing the user experience of storing, investing, and spending fiat and cryptocurrencies,” the letter states.

The project is based on the One For All concept: one app, one experience, all products.

Users will be able to receive salaries in fiat into their Mantle Banking account, convert it into stablecoins, or automatically invest in MI4. Additionally, loans will be available secured by mETH Protocol (mETH), Function (FBTC), or MI4.

The infrastructure of Mantle Banking operates on the L2 solution Mantle Network, utilizing a modular architecture that includes EigenDA technology, zero-knowledge proofs from Succinct (SP1), and the OP Stack.

MI4 — “The S&P 500 of the Crypto Market”

The second announced product, Mantle Index Four (MI4), is a tokenized fund positioned as the “S&P 500 of the cryptocurrency market.” MI4 will receive initial investments of $400 million from the Mantle Treasury.

The index will include:

• Bitcoin ― 50%;
• Ethereum ― 26.5%;
• Solana ― 8.5%;
• Stablecoins ― 15%.

The fund’s yield will be enhanced through staking mETH Protocol (mETH), Bybit Staked SOL (bbSOL), and Ethena Staked USDe (sUSDe). The tokenized structure of MI4 will ensure liquidity, allowing investors to trade their positions or use them as collateral.

Mantle’s Achievements

The letter also highlights key achievements of the Mantle ecosystem over the last quarter:

• Mantle Network. Integration of the EigenDA data availability layer into the main network, continued development of OP Succinct (the project is in the testing phase);
• mETH Protocol. Attracting over 27,000 cmETH into the fixed yield vault in its first month of operation, securing 162,900 mETH for EigenDA;
• Function (formerly Ignition). Attracting Galaxy Digital as an investor and key participant in the FBTC project. Achieving a TVL of $1.2 billion (over 14,500 FBTC).

According to the team, AMA sessions with the heads of Mantle Banking, MI4, mETH Protocol, and Function are planned for the second quarter of 2025, along with presentations at major conferences, including Token2049 and EthCC.

Previously, Mantle introduced the concept of a financial blockchain hub with a treasury of $4.3 billion.