Catenaa, Tuesday, February 10, 2026- UK-based crypto neobank Plutus said its PlusMore initiative raised $2.3 million to expand a blockchain-based loyalty and rewards model built on Coinbase-backed Base, signaling continued interest in real-world crypto utility despite broader market caution.
The fundraising supported the rollout of PLUS, a loyalty rewards token designed to integrate directly with Plutus and partner applications through a Reward-as-a-Service framework. The company said the model allows rewards to be redeemed onchain for cashback, gift cards from major brands, partner discounts and early access to platform features, with each token targeting a minimum redemption value of $10.
Plutus said the raise was conducted through a collaborative effort spanning three launchpads, though part of the process was later revised after a vesting contract issue was identified. As a result, the team canceled the launchpad allocation to prevent early circulation of tokens and instead completed about $700,000 of the raise through in-app sales. The PLUS token is now trading on Aerodrome, a decentralized exchange native to the Base ecosystem.
The company positioned the move as a step toward tighter governance and improved token security, while keeping rewards aligned with everyday spending. Plutus has focused on linking digital assets with card-based payments, aiming to bridge traditional banking services and Web3 infrastructure.
The initiative comes as Base continues to attract consumer-facing projects seeking practical use cases beyond speculation. Plutus said its RaaS model is designed to embed blockchain rewards directly into payment flows rather than rely on standalone incentives.
Founded in 2015, Plutus operates as a crypto-enabled neobank through licensed partners and has been an early provider of crypto-linked card products in the UK market.
