Plasma has launched Plasma One, the first Neobank to be completely built around stablecoins, for the purpose of saving, expenses and earning in digital dollars seamless, the company said in a press release on Monday.
The platform is designed to solve what the company calls a broken user experience for stablecoin holders who often face clumsy interfaces, limited local options and friction when converting to cash.
Stableecoins are cryptocurrencies whose value is bound to another asset, such as the US dollar or gold. They play an important role in cryptocurrency markets, provide a payment infrastructure and are also used to transfer money internationally.
“The dollar is the product and most of the world is desperate to access it,” said plasma agency Paul Faecks.
“Plasma One is our response to the distribution problem as it puts us directly into the hands of people facing financial exclusion, provides permission -free access to save, publish, earn and send digital dollars,” Faecks added.
Plasma One offers card payments with rewards, zero-fees USDT transfers and fast onboarding, all built on Plasma’s own blockchain and payments stack.
The company focuses on new markets where dollar access is most critical using local teams and peer-to-peer cash networks to drive.
The rolling comes in front of Plasmas Mainnet Beta launch on September 25, with access set to expand in steps.
Read more: Plasma for launching Mainnet Beta Blockchain to StableCeCOins next week
