Plasma, a provider of stablecoin infrastructure based in Milan, has launched Plasma One, which it claims is the first neobank dedicated to stablecoin users. The neobank aims to address existing inefficiencies in stablecoin usage, such as poor interfaces, lack of localization, and difficulties in cash conversion. Founder and CEO Paul Faecks emphasized the importance of delivering permissionless financial services to those facing financial exclusion, thereby enhancing access to saving, spending, and transferring digital dollars. Plasma One accepts registrations for its services, which include both virtual and physical cards offering 4% cash back, instant digital dollar transfers, direct stablecoin payments, and yields exceeding 10%. The neobank plans to cover over 150 countries and provide card acceptance at approximately 150 million merchants globally, with a focus on markets where demand for dollars is greatest. It will implement localized strategies, including native language support and the integration of peer-to-peer cash systems. The launch precedes the mainnet beta release on September 25, and will follow a phased rollout to facilitate development and user onboarding. Earlier in July, Plasma raised $373 million in its public token sale, significantly exceeding its $50 million goal, with investments from notable participants such as Bitfinex, Framework Ventures, and the Founders Fund led by Peter Thiel.