Overview
Plasma One is the consumer card from the team behind the Plasma stablecoin chain, designed for people who hold and spend dollar-denominated stablecoins. The card is issued by Rain (a Visa principal member) and accepted everywhere Visa is. You keep your USDT, USDC, or USDS in your own on-device wallet — Plasma One is non-custodial — and every transaction settles via the Plasma network. The card pays tiered cashback in XPL, the chain's native token — 2% on Lite, 3% on Core and 4% on Platinum — and your idle stablecoin balance earns up to ~3.6% APY.
Who Plasma One is best for
Plasma One is best for stablecoin-native users who want a simple, low-fee way to spend USDT or USDC globally without converting to bank balances. If you're already holding stablecoins and want them to earn a yield while still being instantly spendable, it's an excellent fit. The card is currently iOS-only and requires an invitation code — request one from the Sign Up button on this page and we'll mail it to you.
Fees, in detail
FX fees are 0% on USD and EUR transactions and 1% on all other currencies — among the lowest of any crypto card. USD₮ transfers on the Plasma chain are zero-fee, so funding and moving your balance costs nothing. Card pricing is tiered: the Lite tier is free, Core costs $120/yr (or a 1-year lock-up of 10,000 XPL), and Platinum requires a 1-year lock-up of 100,000 XPL. Withdrawal and partner fees are surfaced in-app before you confirm each transaction.
Cashback and rewards
Cashback is paid in XPL, Plasma's native token, and scales by tier: 2% on Lite, 3% on Core and 4% on Platinum. Because cashback is in XPL, the value moves with the broader Plasma ecosystem. The Platinum tier layers premium perks on top of the base rate — it covers Claude Pro and ChatGPT Plus subscriptions, pays up to $600 in airline payback, and returns 10% on AI subscriptions — so heavy AI and travel spenders get the most from the top tier.
Standout features
- Up to 3.6% APY on stablecoin vault balances
- Zero-fee USD₮ transfers on the Plasma chain
- Non-custodial (private keys stay on your device)
- Tiered cashback in XPL: 2% Lite / 3% Core / 4% Platinum
- Platinum perks: Claude Pro & ChatGPT Plus, $600 airline payback, 10% back on AI subscriptions
- Visa acceptance in 150+ countries
- Issued by Rain (Visa principal member)
- Premium physical card available, virtual instant
Pros & cons
Pros
- Tiered cashback up to 4% in XPL (2% Lite / 3% Core / 4% Platinum)
- Platinum covers Claude Pro & ChatGPT Plus, $600 airline payback, 10% back on AI subscriptions
- Stablecoin balances earn yield while sitting on the card
- Truly non-custodial — keys stay on your iPhone
- Zero-fee transfers between Plasma One users
Cons
- iOS-only at launch (Android version listed as coming soon)
- Requires an invitation code to sign up
- Core and Platinum tiers cost an annual fee or a 1-year XPL lock-up
- Cashback in XPL token, so USD value depends on token market
How to sign up
Tap the Sign Up button on this page and you'll see two options: App Store and Get Code. Tap Get Code, enter your email address, and we'll send you a Plasma One invitation code by email. Once you have the code, install the Plasma One app from the App Store and enter it during sign-up.
Frequently asked questions
Why do I need an invitation code for Plasma One?
Plasma One is in a controlled rollout that gates onboarding through invitation codes. Request one through the Get Code option in the Sign Up popup — we email you a code so you can complete sign-up in the app.
Is Plasma One available on Android?
Not yet. The official Plasma One page lists Android as 'coming soon.' Today the card is iOS-only.
What yield does Plasma One pay on stablecoin balances?
Up to ~3.6% APY on the connected stablecoin vault, depending on the asset and market conditions. Yield accrues automatically while your balance sits ready to spend.
What's the FX fee on Plasma One?
0% on USD and EUR spending; 1% on all other currencies. USD₮ transfers within the Plasma chain are free.
How much cashback does Plasma One pay?
Cashback is paid in XPL and scales by tier: 2% on Lite, 3% on Core and 4% on Platinum. The Platinum tier also covers Claude Pro and ChatGPT Plus subscriptions, pays up to $600 in airline payback, and returns 10% on AI subscriptions.
Do I have to pay an annual fee?
It depends on your tier. Lite is free. Core costs $120/yr or a 1-year lock-up of 10,000 XPL. Platinum requires a 1-year lock-up of 100,000 XPL and unlocks the premium perks (Claude Pro, ChatGPT Plus, airline payback and 10% back on AI subscriptions).
