Stablecoin project Plasma is preparing to launch its own neobank, Plasma One. This will occur gradually following the mainnet launch of its blockchain at the end of September.
Introducing Plasma One: the one app for your money. pic.twitter.com/5IgcCon5g8
— Plasma (@PlasmaFDN) September 22, 2025
The platform has opened a waiting list.
The Plasma One card will offer 4% cashback on expenses and over 10% annual returns on balances in “stable coins.”
Users will be able to top up their accounts with fiat-pegged tokens, starting with USDT. Payments will be deducted directly from this balance via a physical or virtual card. The card will be issued by Rain, known for the Avalanche Card.
Returns will be provided by DeFi protocols within the Plasma ecosystem. Interest will be accrued without requiring funds to be locked.
Plasma is an EVM-compatible sidechain of Bitcoin, designed for free USDT transactions. The network secured $3.5 million in investments in a round led by Bitfinex and $20 million in a Series A round involving Peter Thiel’s Founders Fund.
Back in August, Plasma announced a partnership with the staking protocol EtherFi.