Plasma Unveils Flagship Product “Plasma One” Ahead of Mainnet Beta and XPL Token Launch

Plasma, a company developing infrastructure for stablecoin-based financial systems, has introduced its flagship product, Plasma One, in anticipation of its mainnet beta launch and the rollout of its native token, XPL. The announcements come at a time when the project is preparing to transition from development to operational phases, with the mainnet beta set for September 25, 2025, at 8:00 AM ET. 

This move positions Plasma to expand its role in facilitating digital dollar transactions and related services. By combining an accessible app with underlying network advancements, the project aims to address practical needs in global money movement, drawing on partnerships and community involvement to build out its ecosystem.

Introducing Plasma One: A Unified Tool for Financial Management

Plasma One is a central component in the company's product lineup, designed as a neobank that integrates saving, spending, and earning functions into a single application. Users can manage stablecoin balances, particularly USD₮, while accessing features like direct payments from yield-earning accounts. The app supports spending with physical or virtual cards that offer up to 4% cash back, and it extends usability to over 150 countries and 150 million merchants worldwide. This broad coverage allows individuals in diverse markets—such as Istanbul, Buenos Aires, and Dubai—to handle everyday transactions without traditional banking hurdles.

What sets Plasma One apart is its emphasis on efficiency. Onboarding takes minutes, enabling quick access to a virtual card after signup and verification. Transfers of USD₮ occur without fees through the app's integrated routes, though third-party charges might apply in some cases. Moreover, the app eliminates additional costs for foreign exchange, deposits, withdrawals, or spending, which could appeal to users seeking straightforward financial tools. Security remains a priority; Plasma does not hold user assets directly, as stablecoins are custodied by the users themselves, reducing certain risks associated with centralized platforms. 

Built on Plasma's own network, the app serves as a practical testing ground for the project's payment infrastructure. Developers at Plasma intend to refine the system through user feedback, eventually making its components available to external teams for building similar applications. This approach not only streamlines internal operations but also fosters broader adoption by providing proven tools for institutions, wallets, and payment services. As rollout progresses in stages over the coming months, interested users can join a waitlist to gain early access and contribute to its evolution.

Features That Bridge Stablecoins and Everyday Use

Delving deeper, Plasma One incorporates elements that make stablecoins more approachable for non-experts. For instance, users can earn yields of 10% or more on their balances while using those funds for payments, blending saving with spending in a seamless way. The card issuance, handled through a partnership with Signify Holdings under a Visa license, ensures compatibility with global merchant networks. This integration reflects Plasma's focus on real-world applicability, where digital dollars can support remittances, small business operations, and personal finance in emerging markets.

The app's design draws from insights gathered in high-demand regions, where access to stable currencies helps preserve purchasing power amid local economic challenges. By prioritizing permissionless access—meaning no need for traditional approvals—Plasma One could simplify processes that legacy systems often complicate with delays and fees. 

Preparing for Mainnet Beta: A Milestone in Network Development

The upcoming mainnet beta represents a significant step for Plasma, introducing PlasmaBFT, a consensus mechanism optimized for high-throughput stablecoin transactions. At launch, the network will feature $2 billion in stablecoin liquidity, ranking it among the top blockchains in this category. Capital will deploy across more than 100 DeFi partners, including Aave, Ethena, Fluid, and Euler, to support lending, borrowing, and yield generation activities.

Participation in the beta builds on prior campaigns, such as a deposit drive that saw over $1 billion committed in just 30 minutes. Users who verified through the Sonar process by Echo and joined the public sale qualify for involvement. The beta will enable zero-fee USD₮ transfers initially within Plasma's products, with plans to expand this feature as testing progresses. Vault deposits will bridge to the mainnet, allowing withdrawals in USD₮ and marking the completion of the launch's final phase. Through the dashboard at app.plasma.to, users can engage with these transfers, testing the network's composability, speed, and security.

Plasma's infrastructure emphasizes efficiency for global applications, including payments, foreign exchange, and merchant networks. Partnerships, such as with Binance Earn for onchain USD₮ yield products that capped at $1 billion, underscore the project's scale. Additionally, collaborations with Fluid for capital-efficient DEX operations and Rain for crypto card issuance enhance the ecosystem, enabling USD₮ use at millions of merchants.

XPL Token: Securing and Incentivizing the Ecosystem

Alongside the mainnet beta, Plasma will launch XPL, its native token designed to secure the network and align validator incentives. Token distribution begins with non-US participants from the public sale, which raised $373 million against a $50 million cap, indicating strong interest. US participants will receive their allocations on July 28, 2026, to comply with regulations.

An additional 25 million XPL tokens will go to smaller depositors who completed verification and participated in the sale, while 2.5 million are reserved for members of the Stablecoin Collective—a community group focused on education and adoption. Allocations vary by role: 30,000 XPL for original members, 15,000 for contributors, and 7,500 for early participants. Eligible users can verify wallets via Discord to claim these tokens.

XPL's role extends to network governance and security, supporting Plasma's aim to handle large-scale stablecoin flows. The token is not registered as a security in the US, relying on exemptions, and comes with restrictions on transfers and resales.

Ecosystem Expansion and Team Growth

To support these launches, Plasma has bolstered its team with key hires in payments, institutions, product, and security. Adam Jacobs leads global payments, drawing from experience at Binance and FTX; Pascal Bourgi heads institutional efforts with a Goldman Sachs background; Murat Firat oversees product development, informed by roles at Coinbase and BiLira; and Usmann Khan manages protocol security as a top bug bounty researcher. These additions aim to enhance coverage across countries and payment methods, while ensuring robust infrastructure.

Partnerships further enrich the ecosystem. Integrations with Aave for USD₮ liquidity markets and Binance for yield campaigns position Plasma for substantial TVL at launch. The Stablecoin Collective plays an active part, with members eligible for XPL distributions, fostering community-driven growth.

Path Forward for Plasma

As Plasma moves toward its mainnet beta and XPL launch, the introduction of Plasma One provides a user-facing entry point to its technology. This combination could facilitate wider stablecoin adoption by simplifying access to yields, transfers, and spending. With $2 billion in initial liquidity and a focus on scalability, the project sets the stage for expanded financial services. 

Sources:

• _{Plasma Mainnet Beta and XPL Launch Announcement (Plasma Insights): https://www.plasma.to/insights/plasma-mainnet-beta-and-xpl}
• _{Introducing Plasma One (Plasma Insights): https://www.plasma.to/insights/introducing-plasma-one-the-one-app-for-your-money}