Plasma Introduces USDT-Native Neobank Offering 10%+ Yields
Plasma Launches Stablecoin-Focused Neobank App
- Plasma has launched Plasma One, a super-app functioning as a stablecoin-native neobank and card, centered around USDT.
- Users can pay directly from their stablecoin balance with over 10% yields, 4% cashback on Plasma One cards, global coverage in 150 countries, and fee-free transfers within the app.
- Feedback from cities like Istanbul, Dubai, and Buenos Aires helped tailor the user experience, addressing trust issues and onboarding challenges with stablecoins.
The team aims to build efficient financial rails, connecting partners such as FX providers, card networks, and banks into one interface for seamless transactions with stablecoins.
Funding and Market Impact
- Plasma's Series A funding round was led by Bitfinex and Framework Ventures, raising $74 million at a $500 million valuation. Previous rounds raised $24 million, and the XPL public sale raised $50 million.
- USDT, the largest stablecoin by market cap ($172 billion), is crucial for cryptocurrency markets, often signaling upcoming bull rallies.
- Tether recently minted 2 billion USDT, echoing patterns leading to Bitcoin price highs.
