App Offers Zero-Fee Stablecoin Transactions
Plasma has launched Plasma One, a new app designed to make stablecoin transactions effortless and fee-free. The announcement took place on 19th June in London, where Plasma is headquartered.
Offering a user-friendly platform, the app integrates stablecoin usage into everyday financial activities, allowing for spending, sending, and earning digital dollars. By eliminating traditional barriers like wallet fragmentation and costly transaction fees, Plasma One simplifies the process.
Founder and CEO Paul Faecks emphasised, “Stablecoins will not become part of everyday banking through another app sitting on top of someone else’s rails. They need a product that brings the entire experience together.”
Features and Benefits of Plasma One
Depositing stablecoins is straightforward with Plasma One, as users can fund their accounts directly from wallets or through virtual accounts in multiple currencies such as USD, EUR, GBP, MXN, and BRL. A Visa card is available for spending in over 180 countries, providing cashback rewards for AI-related purchases.
Chief Strategy Officer Zaheer Ebtikar noted, “With Plasma One, users can onboard in minutes, add digital dollars, spend with a card, send money globally, and put balances to work from one product.”
Plasma One offers a comprehensive feature set expected from a modern neobank. The app facilitates deposits not only through wallets but also via virtual accounts linked to local payment systems like SEPA, Faster Payments, and ACH. This connectivity enhances user accessibility by allowing account funding in diverse currencies.
Spending is made easy with the Plasma One Visa card, which supports payments in more than 180 countries. Users receive up to 4% cashback on qualified purchases, while AI enthusiasts benefit from additional rewards: the Core tier offers 5% cashback on eligible AI spend plus a year of ChatGPT Go, and the Platinum tier provides 10% cashback, an annual ChatGPT Go subscription, and Claude Pro access.
Cross-border transfers are seamless, with unlimited free transactions settled on the Plasma Network. Users can also earn competitive yields on idle balances, effectively putting their digital dollars to work.
Plasma One’s private beta has attracted 5,000 weekly active users, and the company plans to expand its services to more consumers and businesses. With global stablecoin supply approximately doubling over the last two years, Plasma aims to simplify adoption by making stablecoins accessible and easy to use.
