LONDON--(BUSINESS WIRE)--Plasma has today announced the launch of Plasma One, its flagship financial product designed to make digital dollars usable for everyday spending, sending and earning.
Plasma One is designed to make stablecoins feel like money, only better - more accessible, reliable and efficient. For years, stablecoin adoption has been held back by a fragmented system and poor user experience. We have seen wallets in one place, exchanges in another, and costly off-ramps standing between digital dollars and daily life. Plasma One brings that experience together in a single app, giving users a simple way to spend, send and earn with stablecoins from one account with zero fees.
Headquartered in London, the city that gave rise to Revolut, Wise and Monzo, Plasma is making a bigger bet, that the next generation of consumer banking will be built on stablecoin rails, not legacy banking infrastructure.
Underneath Plasma One is the Plasma Network, Plasma’s own blockchain, purpose-built to move stablecoins instantly, cheaply and reliably at global scale. By owning the infrastructure beneath the product, Plasma is building more than an app. It is creating a vertically integrated financial stack for stablecoins, spanning blockchain infrastructure, liquidity, payments, licensing and consumer distribution.
Paul Faecks, Founder and Chief Executive Officer at Plasma, said: “Stablecoins will not become part of everyday banking through another app sitting on top of someone else’s rails. They need a product that brings the entire experience together. That’s what Plasma One is built to do. By combining the network, payments stack, and user experience into a single platform, Plasma One makes it possible to spend, send, save, and earn with digital dollars as seamlessly and reliably as people use money today.”
From launch, Plasma One delivers the full feature set users expect from a modern neobank:
- Deposit - Add stablecoins directly from your wallet, or fund your account in USD, EUR, GBP, MXN and BRL through dedicated virtual accounts connected to local payment rails, including SEPA, Faster Payments and ACH.
- Spend - Pay with your Plasma One Visa card across 180+ countries. In addition to up to 4% cashback on qualified purchases, Plasma One rewards AI power users with dedicated benefits: the Core tier offers 5% cashback on eligible AI spend plus a year of ChatGPT Go, while the Platinum tier offers 10% cashback on eligible AI spend, along with an annual subscription to ChatGPT Go and Claude Pro.
- Send - Move money across borders in seconds, with unlimited free transfers settled on the Plasma Network.
- Earn - Put idle balances to work with seamless access to competitive on-chain yields.
Zaheer Ebtikar, Chief Strategy Officer at Plasma, said: “Global stablecoin supply has roughly doubled in the last two years, but supply isn’t adoption. Adoption is when stablecoins become simple enough for anyone to use every day. With Plasma One, users can onboard in minutes, add digital dollars, spend with a card, send money globally, and put balances to work from one product. We are taking the efficiency of blockchain technology and combining it with the familiarity of money, creating an experience that feels faster, more global and more useful than traditional finance. That is the standard stablecoins need to reach billions of people.”
Plasma One’s private beta has already amassed 5,000 weekly active users and today's launch is just the beginning - over the coming months, Plasma will add new capabilities for consumers and businesses alike as it continues building out the infrastructure to make stablecoin banking work at scale.
About Plasma
Plasma builds financial products for consumers and businesses using stablecoins instead of traditional banking rails. Plasma One, its first product, lets users send, spend, save, and earn with stablecoins. Everything runs on Plasma's own blockchain, built from the ground up for speed, reliability, and scale.
Disclaimer: Plasma is a financial technology company, not a regulated financial institution, bank, money services business or investment advisor. Plasma does not custody your assets. The stablecoin assets in your Plasma One account are owned and custodied by you. The value of any cryptocurrency, including stablecoin assets pegged to fiat currency, commodities, or any other asset, may go to zero. Stablecoin balances are not bank deposits.
Contacts
Media Contact: Kishan Naran - kishan.naran@wachsman.com