Plasma will launch a new stablecoin digital banking service, Plasma One, after the beta version of its mainnet goes live this month

ChainCatcher news, according to Decrypt, Plasma plans to launch its new banking service Plasma One sometime after the mainnet launch of its stablecoin blockchain later this month.

Its bank card claims a 4% cashback on purchases, over 10% yield on balances, and supports international payments. Plasma One users can top up their cards with the stablecoins of their choice (starting with USDT and gradually expanding) and then pay directly from their balance using either a physical card or a virtual card.

The prepaid credit card will use the Plasma blockchain as a payment channel and will be issued by Rain, the company behind products like the Avalanche Card. Last week, it was officially announced that the stablecoin blockchain will enter the "mainnet testing phase" on September 25. After that, Plasma will roll out its new banking services in phases. Users can now register for the waiting list on the Plasma official website.