Plasma One
A stablecoin-native neobank running on its own chain — zero-fee USD₮ transfers, though XPL fell ~94% from its high.
Stablecoin neobank on own L1; XPL −94% from high.
- Who holds it
- You do. Funds sit on-chain in a wallet the company cannot freeze.
- The ledger
- The blockchain — no company keeps the authoritative record.
- If it fails
- Nothing on the company side to fail; but lose your keys and the money is gone for good.
Derived from Plasma One’s regulation type and custody — a class of protection, not a guarantee. Limits and eligibility vary by scheme, balance and jurisdiction; confirm before you rely on it. What happens if a neobank shuts down →
The facts
| Category | web3-native |
| HQ | — |
| Founded | 2025 |
| Custody | Self-custodial |
| Regulation type | Self-custodial software |
| License detail | Own L1; card via issuer partners |
| Card | Visa · Virtual + physical |
| Cashback | Up to 4% XPL |
| Yield | 10%+ APY USD₮ |
| Stablecoins | Yes |
| KYC | Card only |
| Active regions | North America, Europe, Latin America, Africa, MENA, Asia, Oceania |
| Countries | Global |
| Founders | Paul Faecks |
| Funding | ~$74M + XPL sale; Tether-linked |
Verified links: official site ↗ · terms ↗ · privacy ↗ · @Plasma ↗
Common questions about Plasma One
What is Plasma One?
Plasma One is a self-custodial, on-chain-first neobank, founded in 2025. You hold the keys: Plasma One never takes custody of your funds. It is software rather than a licensed institution (Own L1; card via issuer partners).
Does Plasma One have a card, and where can you use it?
It issues a Visa virtual and physical card, and identity checks apply to the card but not to the wallet. It is available in all 7 world regions tracked here.
Does Plasma One require KYC?
Partly. You can use Plasma One itself without verifying your identity, but ordering its card requires KYC.
What does Plasma One cost?
From the verified fields: cashback Up to 4% XPL; yield 10%+ APY USD₮. Cashback and yield are "up to" figures that change constantly and often depend on a paid plan — confirm current terms with Plasma One before relying on them.
Early investors
Peers
Phantom · Zengo · MiniPay · Eco (Beam) · Dakota · MetaMask
Plasma One appears in
Neobanks that never hold your money (53) · Neobanks where only the card requires ID (33) · Neobanks available in North America (126) · Neobanks available in Europe (144) · Neobanks available in Asia (132) · Neobanks available in Oceania (72) · Neobanks available in Latin America (113) · Neobanks available in Africa (92) · Neobanks available in MENA (85) · Neobanks that issue a Visa card (182)
Figures compiled from public sources, for comparison only — not financial advice. "Up to" rates change constantly; always confirm with the issuer. Spotted an error? Suggest a fix.