Plasma Launches Revolutionary USDT-Native Neobank with 10%+ Yields

Core Insights - Plasma has launched a Tether-backed layer-one blockchain and a super-app called Plasma One, which serves as a stablecoin-native neobank and card, initially centered around USDT [1][4] - Users can earn over 10% yields while paying directly from their stablecoin balance, with additional benefits such as 4% cash back, coverage in 150 countries, and fee-free transfers within the app [2] Company Overview - Plasma is closely associated with Tether, having its Series A funding led by Bitfinex, Tether's sister company, with Paolo Ardoino serving as CEO for both companies [5] - The project has raised a total of $74 million at a valuation of $500 million, with previous funding rounds totaling $24 million and a public sale raising $50 million [6] Market Context - The demand for the dollar is increasing globally, with Plasma customizing its offerings based on feedback from users in cities like Istanbul, Dubai, and Buenos Aires to enhance trust and onboarding processes [3] - USDT is currently the largest stablecoin by market capitalization, valued at $172 billion, and has a 24-hour trading volume of $179 billion, indicating its significant role in the cryptocurrency market [6] Strategic Vision - Plasma aims to create efficient financial rails by leveraging stablecoins, which are positioned as cheaper, faster, and more reliable alternatives to traditional financial systems [4] - The company plans to onboard top partners to connect various financial services into a seamless interface, enhancing user experience and utility [4]