Catenaa, Thursday, September 25, 2025-Plasma, the Bitfinex-backed blockchain project, announced Monday the launch of Plasma One, calling it the first neobank built natively for stablecoins.
The rollout comes just days before Plasma’s mainnet beta on Sept. 25 and the scheduled generation of its native XPL token.
The company said the new app targets users who rely on dollar-pegged assets but struggle with fragmented platforms and limited cash-out options.
Plasma One offers zero-fee USDT transfers within its network, card spending with rewards, and instant virtual card onboarding.
Early access will prioritize markets with restricted dollar access, aiming to drive broader adoption of stablecoin-based financial services.
Stablecoin usage has surged globally, with supply nearing $280 billion. Supporters expect the market to surpass $2 trillion by 2028 if favorable regulation such as the U.S. GENIUS ACT advances.
Plasma argues that while liquidity and infrastructure are growing, user-friendly applications remain lacking. Head of Product Murat Firat said the vertically integrated neobank is designed to fill that gap.
The project said it plans to debut with around $2 billion in stablecoin liquidity and more than 100 DeFi integrations. Pre-market trading of XPL this summer valued the token between $4.5 billion and $7.6 billion.
Plasma earlier raised $50 million and secured $373 million in oversubscribed commitments, alongside a $1 billion USDT product with Binance to seed liquidity.
