Plasma has launched Plasma One, the first neobank built entirely around stablecoins, aiming to make saving, spending, and earning in digital dollars seamless, the company said in a press release Monday.

The platform is designed to fix what the company calls a broken user experience for stablecoin holders, who often face clunky interfaces, limited local options, and friction when converting to cash.

Stablecoins are cryptocurrencies whose value is tied to another asset, such as the U.S. dollar or gold. They play a major role in cryptocurrency markets, providing a payment infrastructure, and are also used to transfer money internationally.

“The dollar is the product, and most of the world is desperate to access it,” said Plasma CEO Paul Faecks.

"Plasma One is our answer to the distributio

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