XPL, the native token of the Plasma blockchain, jumped roughly 30% as traders front-ran the launch of tiered card memberships for the project’s Plasma One neobank app. The new feature, expected to go live next week, will reward users based on how much XPL they lock, effectively creating a staking-like incentive tied to a physical Visa card.
What Plasma actually does
Plasma is a Bitcoin-secured Layer-1 blockchain built specifically for stablecoin payments and settlements. The Plasma One app functions as a neobank. It comes with a Visa-backed card that lets users transact, earn yields, and receive cashback directly from their stablecoin balances. Internal USDT transfers carry zero fees, and the card offers up to 4% cashback on purchases.
The project says Plasma One operates in over 150 countries and works with millions of merchants globally.
The numbers behind the rally
