Plasma launched Plasma One, the first neobank built entirely around the Stablecoins, aimed at making saving, spending, and seeing digital dollars without sewing, the company told a Press release Monday.
The platform is designed to fix what the company calls a broken user experience for Stablecoin holders, often faced with clunky interfaces, limited local options, and disputes when converting cash.
Stablecoins are cryptocurrencies that the value is tied to another owner, such as the US dollar or gold. They play a major role in cryptocurrency markets, which provides payment infrastructure, and are also used to transfer money worldwide.
“The dollar is the product, and most of the world is desperate to access it,” said Plasma CEO Paul Faecks.
“Plasma One is our answer to the distribution problem because it puts us directly into the hands of those who face financial exception, deliver unauthorized access to saving, spending, achieving, and sending digital dollars,” Faecks added.
Plasma One offers card payments with rewards, transferring zero-fee USDT, and fast onboarding, all built on its own blockchain and plasma payments.
The company focuses on emerging markets where dollar access is most critical, using local teams and peer-to-peer cash networks to drive adoption.
The Rolelout preceded the launch of the Mainnet Beta of Plasma on September 25, with a access set to expand in stages.
Read more: Plasma to launch Mainnet Beta Blockchain for Stablecoins next week
